Telenor Group divests stake in Malaysian mobile financial services business, Valyou
Telenor Group has completed the sale of its 100 percent stake in Valyou Sdn. Bhd. (“Valyou”), a wholly-owned mobile financial services provider in Malaysia, to Merchantrade Asia Sdn Bhd (“Merchantrade”), a fast-growing Malaysian FinTech.
Merchantrade is Malaysia’s largest Money Services Provider and a fast-emerging e-money issuer with over two million customers. For Telenor Group this was the right time to divest, as Merchantrade is well suited to take the Valyou business forward. By leveraging each other’s expertise, Merchantrade and Valyou will further develop the business and strengthen the money services and digital payment landscape in Malaysia.
The acquisition has received Bank Negara Malaysia approval.
Telenor Group continues to focus on creating value in the Malaysian market through its mobile operator Digi, which is an important operation for the company.