China Mobile Director Under Government Investigation

China Mobile, 12/27/09

China Mobile (NYSE: CHL; 0941.HK) has announced that vice chairman and executive director Zhang Chunjiang is currently under investigation by relevant authorities due to "suspected serious personal violations."

Editor's Note: According to a telecom industry veteran, the investigation is related to IT operations and maintenance management solutions and services provider Beijing Ultrapower (300002.SZ). China Mobile already conducted its own internal investigation into mid- and senior-level managers connected with Ultrapower, and one employee in China Mobile's data division may have been implicated. Another source claims that the investigation is due to false financial reporting by China Netcom during Zhang's tenure as Netcom Party Secretary and GM.

China Mobile spokeswoman Rainie Lei said the investigation would have no impact on operations. Lei could not confirm whether the investigation would result in Zhang's resignation.

Keywords: HR Zhang Chunjiang China Mobile wireless CHL 0941.HK Ultrapower 300002.SH

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