Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

China Mobile Takes 20% Stake in Bank for RMB 40 Bln

Netease, 3/10/10

China Mobile (NYSE: CHL; 0941.HK) has officially confirmed that Guangdong Mobile and Shanghai Pudong Development Bank have signed a stock purchasing agreement. Guangdong Mobile will acquire a 20% stake in Shanghai Pudong Development Bank for RMB 39.8 bln, for which Shanghai Pudong Development Bank will issue over 2.2 bln A-shares. China Mobile will become the bank's second largest shareholder. China Mobile said it will not merge the bank's assets, debts or performance results with its own.

Keywords: Guangdong Mobile China Mobile wireless Shanghai Pudong Development Bank CHL 0941.HK A-share M&A

« Prev Index Next »
Disclaimer

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

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 Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Search

Search Marbridge Daily

Marbridge Reports

Baidu, Alibaba, Tencent, JD, & Xiaomi M&A Matrix - Q3 2018
Chinese Mobile Gaming Industry Matrix - Q3 2018