Norway’s Telenor ASA is considering selling its controlling stake in Easypaisa Bank, a move that could mark the company’s complete exit from Pakistan after more than two decades in the country, Bloomberg reported.
The company is working with Citigroup on a potential sale of its 55 percent stake in the digital bank. The holding could be valued at several hundred million dollars, although discussions remain at an early stage and no final decision has been made.
Telenor plans to seek initial bids from potential buyers in the coming months as it evaluates strategic options for the business. The deliberations are private and may not necessarily result in a transaction.
Easypaisa, formerly known as Telenor Microfinance Bank, has grown into one of Pakistan’s most widely used digital financial platforms and is a leading provider of money transfer and mobile financial services. China’s Ant Group owns the remaining stake in the bank.
The potential sale follows the recent completion of Telenor’s exit from Pakistan’s telecommunications sector after securing final regulatory approval for the sale of its local telecom operations in a transaction valued at approximately $490 million.
If completed, the disposal would end Telenor’s presence in Pakistan and add the company to a growing list of multinational firms that have reduced or ended operations in the country in recent years.
Investors are likely to view the move positively as part of Telenor’s broader effort to simplify and streamline its Asian portfolio.
