Rumor: China Mobile to Take 40% Share of CMMB JV
CCID.com, 4/26/12
An industry source revealed today that China Mobile (NYSE: CHL; 0941.HK) and China Cenral Television (CCTV) had settled on a plan for the operator to acquire a stake in the China Broadcasting Corporation (CBC) and to cooperate with CCTV on integrating and operating the CMMB mobile broadcasting industry chain. The China Mobile-CCTV partnership will initially be a pure stock arrangement, but could lead to a joint venture in the future in which CBC would hold a 50% stake, with China Mobile and CCTV holding 40% and 10% stakes, respectively.
Editor's Note: For more background on this topic, please see "China Mobile: May Invest in CMMB Joint Venture" MD 3/06/12 issue.
Keywords: China Mobile television CMMB CCTV JV CHL 0941.HK China Broadcasting Corporation mobile phone TV M&A