Rumor: China Mobile Abandons MTL Purchase

21st Century Business Herald, 5/14/08

Responding to recent rumors in the marketplace that India's Bharti Airtel planned to go up against China Mobile (NYSE: CHL; 0941.HK) for control of a USD 19 bln, 51% controlling stake in South African operator MTN, a source close to China Mobile says that China Mobile's overseas strategy is focused on cost control. According to the source, China Mobile established a dedicated team to study the possibility of acquiring a stake in MTN, and that although the team produced a feasibility report on the acquisition, a news leak caused MTN's stock price to shoot up, leading China Mobile to abandon the idea.

Keywords: Bharti Airtel M&A Africa 0941.HK China Mobile CHL MTN overseas strategy wireless

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily