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title: Pakistan state bank approves due diligence for Telenor financial arm - Developing Telecoms
description: The State Bank of Pakistan approved MCB Bank to perform due diligence to acquire a majority stake in Telenor's financial operations in Pakistan.
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 [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html)## Pakistan state bank approves due diligence for Telenor financial arm

 

 

   Details    Manny Pham    Category: [Mobile Finance](https://developingtelecoms.com/telecom-technology/financial-services.html)     22 February 2022     6997 views   

 

  ![Pakistan state bank approves due diligence for Telenor financial arm](https://developingtelecoms.com/images/stories/Places/800x600/Karachi_Empress_Market_600.jpg)  

 

The State Bank of Pakistan approved MCB Bank to perform due diligence to acquire a majority stake in Telenor's financial operations in Pakistan.

Business Recorder reported the confirmation stemmed from a filing to the Pakistan Stock Exchange this week.

The potential transaction will be for a 55% stake in Telenor’s financial arm in Telenor Microfinance Bank, reported Business Recorder.

Telenor announced in November last year it was reviewing potential buyers for the majority stake, the remainder is owned by Alipay owner Ant Group, and has held it since 2018.

The Chinese company said last year [it would support the sale if MCB](https://developingtelecoms.com/telecom-technology/financial-services/12247-telenor-looks-to-shift-mobile-money-stake-in-pakistan-as-mcb-takes-note.html) was successful.

 

 

   
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