MCB approves due diligence to buy 55% shares of Telenor Microfinance Bank

MG News | November 03, 2021 at 09:56 AM GMT+05:00

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November 3, 2021 (MLN): The Board of Directors of the MCB Bank in its meeting held on October 27, 2021, has accorded its in-principle approval to conduct due diligence for a potential transaction for the purchase of 55% shares of Telenor Microfinance Bank Limited held by Telenor Pakistan BV.

The above approval given by the Board is subject to the permission granted by the State Bank of Pakistan (SBP) or any other regulatory authority, the notice issued by the bank yesterday to Exchange said.

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