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Rumor: China Mobile to Acquire Tencent

Donews, 1/04/10

According to sources within the telecommunications industry, on December 31 China Mobile (NYSE: CHL; 0941.HK) CEO Wang Jianzhou led a delegation to Tencent's (0700.HK) headquarters to again discuss the possible purchase of the wireless value-added service provider by China Mobile.

The source said that China Mobile has considered purchasing Tencent for quite a while, and that China Mobile had several discussions on the topic during the time when Wang Xiaochu was CEO, but due to China Mobile's structural issues and Tencent's demands, nothing ever came of the discussions.

Editor's Note: China Mobile's spokesperson has denied speculation that China Mobile would purchase Tencent, and further stated that China Mobile has no intention of purchasing Tencent.

Keywords: Wang Jianzhou China Mobile wireless Tencent CHL 0941.HK 0700.HK SP WVAS M&A Internet online gaming

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