Alibaba wants to buy shares of Telenor Bank

The internet giant company Alibaba is going to buy 40% of stakes in Pakistani bank Telenor. In turn, Telenor Bank submitted an application to the central bank for a financial and legal examination, which is mandatory for banks, in the event of the sale of shares. The amount of the transaction is estimated at $ 100 million. If the deal takes place, this will have a positive effect on the situation in Pakistan. The country will have access to Alipay electronic payment system, improving the development of e-commerce in its region.

Over the past few days, shares of Alibaba have grown by 1.3% and will continue to grow. Trade will be available during the American session, from 13:40 to 20:00 (GMT).

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