Why is this important
If the transaction is confirmed, this will be one of the most significant examples of transferring a strategic state asset to private business in Uzbekistan. This can change the structure of the postal market, strengthen the role of private capital in the public sector, and attract investors’ attention to other planned privatizations.
What happened
- Economist Otabek Bakirov said that the buyer could be a Russian online platform, there is no official confirmation.
- A source familiar with the situation confirmed to Spot the privatization, but did not disclose the size of the share package.
- In June, the structure of UzPost’s affiliates changed: Aloqabank, the Ministry of Economy, and others were excluded, and the State Assets Management Agency, UzNIF, and companies affiliated with the State Joint-Stock Company were added to the list.
- In September, UzPost’s 25 percent stake, which was planned to be transferred to UzIF, was officially transferred to the State Assets Management Agency (SAMA).
- Before the transaction, the company’s charter capital was increased by almost 40% by transferring the buildings of 50 post offices.
- Neither the Asset Management Agency nor UzPost itself has yet given an official comment.
What they say
Spot quoted a source who confirmed the privatization but declined to disclose the details.
Context
Privatization is part of Uzbekistan’s large-scale program for 2025-2028: the government intends to sell shares in large state-owned enterprises and bring them to international markets. Franklin Templeton manages the assets of the Uzbekistan National Investment Fund (UzNIF) and participates in preparing the IPO of state-owned companies. In the previous privatization program, the postal operator was also included in the list of assets to be sold, which placed it in one of the priority places. Until now, UzPost was considered entirely state-owned.
