Franklin Templeton’s Marius Dan says Uzbektelecom is the leading candidate for a 2027 listing as UzNIF maps out a pipeline of six portfolio IPOs, while shareholders face an 18-month wait for the fund’s first dividend payment.
Uzbekistan’s Competition Committee has approved VEON’s roughly $207 million purchase of mobile operator Perfectum on conditions including a three-year operational separation requirement and a 12-month freeze on 5G tariffs for existing subscribers.
Uzbekistan’s competition regulator has approved Veon’s purchase of all shares in Perfectum mobile operator, imposing seven conditions including a three-year independence requirement and a freeze on 5G tariffs.
Uzbekistan has begun formal preparations to privatise the $3.42 billion Uzbekistan GTL plant, with an IPO also under consideration, but the agency leading the process could not provide current financial figures at a press conference — while a criminal trial over construction defects and a $1 billion Air Products deal add complexity to any future sale.
Batyr Rakhimov, the Uzbek businessman and former owner of the Paxtakor football club, faced sustained negative coverage in the Turkish press in June 2021 as a US-citizen claimant pursued civil and criminal proceedings in Bodrum alleging he acquired a luxury hotel through a fraudulent $47 million cheque following the suspicious death of its owner.
Turkish energy company Aksa Enerji plans to sign agreements within a week to manage electricity distribution networks in Tashkent, Jizzakh and Syrdarya regions, extending a model already in place in Samarkand under a 30-year public-private partnership.
British Ambassador Timothy Smart is departing Tashkent after three years, leaving behind a bilateral trade relationship that expanded nearly eightfold, a new international commercial court in the works, and deepened security ties — with a high-level Uzbek delegation to London still to come.
Uzbekistan’s Deputy Minister of Investments, Industry and Trade Shohrukh Gulyamov held a series of bilateral meetings with major UAE companies in Abu Dhabi, advancing project frameworks for water treatment in New Tashkent, logistics digitalisation, gas transportation financing and urban development.
Saida Mirziyoyeva, Head of the Presidential Administration, met Henderson Land Group Chairman Peter Lee on October 16 to discuss potential joint projects in renewable energy, New Tashkent infrastructure and education, as Tashkent seeks to deepen investment ties with Hong Kong’s largest holding companies.
The State Assets Management Agency has confirmed the cancellation of oil-field licenses held by Sanoat Energetika Guruhi and the termination of the $100 million Fergana Oil Refinery sale, as the company’s financial collapse leaves nearly 39,000 workers owed $131 million in wages.
