MCB Bank OKs due diligence for Telenor Microfinance Bank stake buy

The board of Pakistan's MCB Bank Ltd. has given in-principle approval to conduct due diligence on the potential acquisition of a 55% stake in Telenor Microfinance Bank Ltd.

The lender will purchase the controlling stake from Telenor Pakistan BV, which operates under the brand name Easypaisa, according to a Nov. 2 release.