Conflicting News Superficial on Alibaba’s Meeting to Buy Major Telenor Bank Share

Conflicting News Superficial on Alibaba’s Meeting to Buy Major Telenor Bank Share

A conflicting news on Alibaba’s interest in Telenor Banks is in the air today that created an uncertain atmosphere. Jack Ma’s Alibaba, the world’s biggest e-commerce player, had been evaluating its options to enter the Pakistani market. The company’s officials have been in Pakistan for meeting leading local players and shortlisting their investment opportunities. Conflicting News Superficial on Alibaba’s Meeting to Buy Major Telenor Bank Share

According to some tech bloger, Alibaba’s Ant Financial that was previously AliPay have made a deal as it is starting due diligence on Telenor Bank in Pakistan.

Conflicting News Superficial on Alibaba’s Meeting to Buy Major Telenor Bank Share

The tech blogger further explained:

“We have confirmation that Ant Financial will be starting due diligence on Telenor Bank within a couple of weeks. From what we have heard, Ant Financial might be looking at 40% shares in Telenor Bank for some $100 million or around.”

On the contrary, another tech blogger denied all claims after reaching out to Telenor Bank whose representative denied the news.

They further mentioned:

“Subul Naqvi, from Telenor Bank’s Corporate Communications division said that they have no information regarding any such deal between Alibaba and Telenor Bank. Upon asking whether Alibaba had approached Telenor Bank for related discussion, she declined to comment on it.”

Additionally, this conflict made the whole situation remarkable. It make a lot of people from the business society to keeping a birds-eye view of the moves beingg initiated by Alibaba.

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