Telenor explores sale of 55% stake in Pakistan digital bank, Bloomberg reports

Telenor ASA is considering the sale of its 55% stake in Easypaisa Bank Ltd., a move that could result in the Norwegian company’s complete exit from Pakistan after more than two decades in the country, according to a Bloomberg report citing people familiar with the matter.

The report said Telenor is working with Citigroup Inc. on a potential disposal of its controlling stake in the digital bank formerly known as Telenor Microfinance Bank Ltd. One of the sources said the stake could be valued at several hundred million dollars.

According to the report, Telenor plans to seek initial bids from potential buyers within the next few months. Discussions remain ongoing, and no final decision has been made regarding the transaction.

Ant Group Co. owns the remaining 45% stake in Easypaisa, which has become one of Pakistan’s largest digital financial services platforms and a widely used brand for money transfers and mobile payments.

Representatives of Telenor and Citigroup declined to comment on the reported sale process, while Ant Group did not respond to a request for comment, Bloomberg reported.

The potential transaction follows Telenor’s decision to exit Pakistan’s telecom sector. Earlier, the company agreed to sell its Pakistani telecommunications business in a transaction that valued the operation at approximately $490 million.

If completed, the sale would mark Telenor’s full withdrawal from Pakistan and follow the departure of several multinational companies that have scaled back or exited operations in the country in recent years.

Market analysts said the move would align with Telenor’s broader strategy of simplifying its international portfolio.

“It would be well received by the financial community to see Telenor simplifying its Asian portfolio,” DNB Carnegie analyst Christoffer Wang Bjornsen wrote in a note to clients cited by Bloomberg.