Norwegian mobile operator Telenor is considering the sale of its 55 percent controlling stake in the Pakistani digital bank Easypaisa Bank, Bloomberg News reports, citing sources.
The company is working with Citigroup on a potential divestment. The holding could be valued at several hundred million dollars. Telenor is expected to invite potential buyers to submit preliminary bids in the coming months. No final decision has yet been made.
Telenor ASA is the No. 1 telecommunications group in Norway. Net sales (including intragroup) break down by activity as follows:
- mobile and fixed-line telecommunications services (89.8%): mobile and fixed-line telephony services, voice and data transmission, Internet access, messaging, TV channel broadcasting, sale of telecommunications equipment, etc.;
- telecommunications infrastructure management (4.1%): construction, development and leasing of towers, masts, buildings, etc.;
- other (6.1%): offshore telecommunications services, interconnection between operators, etc.
Net sales are geographically distributed as follows: Norway (34.7%), Sweden (18.6%), Bangladesh (17.4%), Finland (17.3%), Denmark (8.2%) and other (3.8%).
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