The potential transaction forms part of a broader partial sale initiative by the Hanoi-based company, which has become a dominant player in Vietnam’s rapidly digitizing financial sector. While the firm has maintained confidentiality regarding the process, two individuals familiar with the negotiations confirmed that binding bids are expected to be submitted by September.

Representatives for MoMo, CVC, and MUFG did not immediately respond to requests for comment, while Blackstone declined to provide a statement. The interest from such high-profile institutional investors underscores the sustained appetite for scalable fintech assets in the region, even as global markets face tightening liquidity conditions.