No need for a data struture more complicated than a string.

#!/usr/bin/perl

# http://perlmonks.org/?node_id=1209051

use strict;
use warnings;

local ($/, $,, $\) = ("<SUBEND\n", ',', "\n");

while(<DATA>)
  {
  s~NONE.*~1/1/1/0~g;
  s~91436903000.*~1/1/1/0-436903000~g;
  print /MSISDN=(\d+)/, /CF=(.*)/g;
  }

__DATA__
<BEGINFILE>
<SUBBEGIN
     IMSI=232191400010332;
     MSISDN=436906901235;
     CF=CFU-ALL-PROV-NONE-YES-NO-NONE-YES-65535-NO-NO-NO-NO-NO-NO-NO-N
+O-NO-NO;
     CF=CFB-ALL-PROV-NONE-YES-YES-NONE-YES-65535-NO-NO-NO-NO-NO-NO-NO-
+NO-NO-NO;
     CF=CFNRY-ALL-PROV-NONE-YES-YES-NONE-YES-65535-NO-NO-NO-NO-NO-NO-N
+O-NO-NO-NO;
     CF=CFNRC-ALL-PROV-NONE-YES-NO-NONE-YES-65535-NO-NO-NO-NO-NO-NO-NO
+-NO-NO-NO;
     CF=CFD-TS10-ACT-91436903000-YES-YES-25-YES-65535-YES-YES-NO-NO-NO
+-YES-YES-YES-YES-NO;
<SUBEND
<BEGINFILE>
<SUBBEGIN
     IMSI=232191400010339;
     MSISDN=436906901231;
     CF=CFU-ALL-PROV-NONE-YES-NO-NONE-YES-65535-NO-NO-NO-NO-NO-NO-NO-N
+O-NO-NO;
     CF=CFB-ALL-PROV-NONE-YES-YES-NONE-YES-65535-NO-NO-NO-NO-NO-NO-NO-
+NO-NO-NO;
     CF=CFNRY-ALL-PROV-NONE-YES-YES-NONE-YES-65535-NO-NO-NO-NO-NO-NO-N
+O-NO-NO-NO;
     CF=CFNRC-ALL-PROV-NONE-YES-NO-NONE-YES-65535-NO-NO-NO-NO-NO-NO-NO
+-NO-NO-NO;
     CF=CFD-TS10-ACT-91436903000-YES-YES-25-YES-65535-YES-YES-NO-NO-NO
+-YES-YES-YES-YES-NO;
<SUBEND
[download]

Outputs:

436906901235,CFU-ALL-PROV-1/1/1/0,CFB-ALL-PROV-1/1/1/0,CFNRY-ALL-PROV-
+1/1/1/0,CFNRC-ALL-PROV-1/1/1/0,CFD-TS10-ACT-1/1/1/0-436903000
436906901231,CFU-ALL-PROV-1/1/1/0,CFB-ALL-PROV-1/1/1/0,CFNRY-ALL-PROV-
+1/1/1/0,CFNRC-ALL-PROV-1/1/1/0,CFD-TS10-ACT-1/1/1/0-436903000
[download]