Telenor Considers Sale Of Easypaisa Stake

Telenor ASA is reportedly evaluating the sale of its 55% shareholding in Easypaisa Bank Limited, a transaction that could result in the company’s complete withdrawal from Pakistan after maintaining a presence in the country for more than two decades.

According to a report published by Bloomberg, citing individuals familiar with the matter, Telenor has engaged Citigroup Inc. to explore the potential divestment of its controlling interest in the digital banking institution, formerly known as Telenor Microfinance Bank Limited.

Sources cited in the report indicated that the value of the proposed stake sale could amount to several hundred million US dollars, although discussions remain preliminary and no final agreement has been reached.

Telenor is reportedly expected to invite initial offers from prospective investors within the coming months as part of the evaluation process. However, the company has not yet made a definitive decision regarding the disposal of its ownership interest.

The remaining 45% stake in Easypaisa is owned by Ant Group Co.. Easypaisa has evolved into one of Pakistan’s largest digital financial services providers and has established a significant presence in mobile payments, digital banking, and money transfer services.

According to Bloomberg, representatives of Telenor and Citigroup declined to comment on the reported transaction, while Ant Group did not provide a response to requests seeking clarification on the matter.

The potential sale follows Telenor’s previously announced decision to exit Pakistan’s telecommunications market. Earlier, the company agreed to dispose of its local telecom operations through a transaction that reportedly valued the business at approximately $490 million.

If the proposed disposal of the Easypaisa stake proceeds to completion, it would mark Telenor’s full departure from Pakistan and add to a broader trend of multinational corporations reducing or discontinuing operations within the country in recent years.

Market observers noted that such a transaction would be consistent with Telenor’s wider corporate strategy aimed at streamlining and rationalising its international business portfolio.

According to Bloomberg, analyst Christoffer Wang Bjornsen of DNB Carnegie stated that the financial community would likely view favourably any move by Telenor to simplify and consolidate its Asian operations through strategic divestments.