UzPost confirms investor talks but dismisses takeover rumors

In its statement, UzPost said that discussions are currently underway to attract investment into the company.

“As of today, the shareholders of UzPost JSC include the Ministry of Economy and Finance, the Agency for Management of State Assets, five state-owned enterprises, and more than 16,000 legal entities and individuals.

If any changes occur as a result of attracting a major investor, relevant information will be officially disclosed in accordance with the requirements of the Law of the Republic of Uzbekistan ‘On Joint-Stock Companies and Protection of Shareholders’ Rights,’” the company’s statement reads.

The clarification came after economist Otabek Bakirov wrote on October 11 that, according to his sources, a “northern marketplace” was in the process of privatizing UzPost. The following day, Gazeta.uz cited a source familiar with the matter who claimed that the state’s stake in UzPost had been transferred to the Russian e-commerce platform.

Rumors that Wildberries had become a shareholder in UzPost first surfaced in early September.

According to Uzbekistan’s 2025 privatization program, the 29.4% stake in UzPost JSC owned by Aloqabank was slated for public sale.

The national postal operator currently has 1,602 post offices and more than 3,500 delivery points across the country. It employs over 7,000 staff, including about 2,500 postal workers.

UzPost reported a net profit of UZS 809.7 million in 2023 and UZS 843.9 million in 2024.