PSO Planning to Buy Telenor Pakistan & Easypaisa
Sources claim that PSO (Pakistan State Oil), the largest and most well-known oil marketing company in Pakistan, is performing due diligence on Telenor’s operations in Pakistan.
With the first round of bids anticipated to be requested soon, Telenor intends to liquidate its about $1 billion worth of businesses in Pakistan.
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Based on regulatory permission, the completion of the bid documents, and the results of the due diligence on the companies, PSO is anticipated to acquire Telenor Pakistan and Easypaisa.
The 2009-launched Easypaisa offers mobile wallet, mobile payments, and branchless banking services, and presently has 9 million monthly active customers.
Initially, it was made available as a USSD (Unstructured Supplementary Service Data) channel for fund transfers, but in 2016, the Easypaisa app was made available, making it possible to conduct financial transactions in addition to fund transfers.
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In essence, Telenor Microfinance Bank, which is owned jointly by Telenor Group and Easypaisa, offers branchless banking services through Easypaisa.
On January 17, 2023, they most recently introduced their debit card.
Due to high telecom industry taxes and the PTA’s (Pakistani Telecommunication Authority) rules and conditions, which have reduced profits, the company has opted to cease operations in Pakistan.
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