You could read each record into an array, and check it as a unit:

#!/usr/bin/env perl
use strict;
use warnings;
use feature qw(say);
use List::Util qw(first);

my $rec_no = 0;
my @record;
my $msisdn;

while(<>){
    chomp;
    if(/^<SUBBEGIN/){
        @record = ($_);
        $msisdn = undef;
        say "Found record: ", ++$rec_no;
        next;
    }elsif(/^<SUBEND/){
        push @record, $_;
        check_record(\@record);
        @record = ();
    }elsif(/^\s*MSISDN=(\d+);/){
        $msisdn = $1;
        say "Record $rec_no: MSISDN = $msisdn";
    }else{
        push @record, $_;
    }
}

exit 0;


sub check_record {
    my $listref = shift;
    if(     first {/^\s*CF=(CFU-TS10-ACT-(NONE|\d+))/} @{$listref}
        and first {/^\s*CF=(CFB-TS10-ACT-(NONE|\d+))/} @{$listref}
    ){
        say "this case is found here .....";
    }
}
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It's a bit of a brute-force solution, but it should work.

Sample output:

$ ./t.pl
Found record: 1
Record 1: MSISDN = 1234567890
this case is found here .....
Found record: 2
Record 2: MSISDN = 1234567890
this case is found here .....
[download]