China Mobile chief executive Wang Jianzhou has gone on record saying that the firm is looking at acquisition and investment opportunities in Asia and Africa.
In addition, Wang said that China Mobile will also continue to investment in the domestic…
China Mobile chief executive Wang Jianzhou has gone on record saying that the firm is looking at acquisition and investment opportunities in Asia and Africa.
In addition, Wang said that China Mobile will also continue to investment in the domestic market.
The giant has over US$30bn in its cash reserve.
To date, the firm has acquired Hong Kong mobile carrier China Resources Peoples Telephone Co in 2006 for US$436m, a 20% stake in Shanghai Pudong Development Bank for US$5.83bn earlier this year and is also hoping to sew up a stake in Taiwan’s Far EasTone Communications Co.
China Mobile recently reported a net profit increase of 2.3% to US$16.87bn for last year. However, this was much lower than the 30% growth it witnessed in 2008.
