SASAC to Put Pressure on China Mobile's Bank Merger

National Business Daily, 5/12/10

On May 10, China's State-owned Assets Supervision and Administration Commission (SASAC) issued a notice stating that SASAC will carry out an inspection of mergers between state-owned enterprises and public companies, and will investigate and conduct analysis into the effectiveness of regulatory management systems and compliance with procedures currently in place for such mergers. SASAC also said it will evaluate whether or not such mergers are reasonable, and will step up risk management efforts. The notice is expected to put pressure on China Mobile (NYSE: CHL; 0941.HK) in its merger with the Shanghai Pudong Development Bank.

Editor's Note: For more background on this topic, please see "China Mobile, SPDB Cooperation Awaits Approval" MD 3/31/10 issue.

Keywords: mobile payment regulation China Mobile wireless Shanghai Pudong Development Bank SASAC CHL 0941.HK M&A

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