Telenor is considering selling its stake in Easypaisa, Pakistan’s leading digital banking and cash-transfer platform, and has engaged Citigroup to shepherd the process.
The Norwegian telecom group is seeking a buyer for the holding which, according to Bloomberg sources, could fetch several hundred million dollars. Initial bids from prospective purchasers are expected to be solicited within the coming months, although no final decisions have been made.
Ant Group holds the remaining stake in Easypaisa, which has established itself as one of Pakistan’s most recognized platforms for digital transfers. Telenor, Citigroup and Ant Group declined to comment.
The potential divestment follows Telenor’s earlier exit from Pakistan’s mobile-telecom market in a deal worth roughly $490 million. A sale of the Easypaisa stake would mark a full withdrawal from the country for the company, which has operated in Pakistan for roughly two decades, placing it among a growing list of multinationals — including Procter & Gamble and Shell — that have wound down local operations in recent years.