Friday, September 22, 2017

Alibaba and Telenor all set to usher in new era in e-commerce in Pakistan

Alibaba is making new inroads in Pakistan and has recently taken an initiative to share the micro financing of Telenor Pakistan - one of the leading mobile service provider in Pakistan.

As per reports, Alibaba has shown interest in acquiring a 40 pc stake in the Telenor's micro financing bank in a due-diligence request received by State Bank of Pakistan by Telenor Pakistan.

Dubbed as the first ever such deal in Pakistan, Alibaba is rumored to be investing $100 million. The part acquisition could be a game-changer as it is a market leader in mobile-wallet payments with its brand Easypaisa and is locked in an intense battle with leading telecom players like Jazz and other banks.


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