China Mobile Close to Biggest Overseas Acquisition Ever by a Chinese Company

From Financial Times:

"China Mobile is close to buying Millicom International Cellular, the mobile phone operator focused on emerging markets, for about $5bn, people familiar with the situation said yesterday.

A purchase of Millicom, which has more than 8m subscribers in 16 countries, would be the biggest overseas acquisition ever by a Chinese company.

China Mobile would pay $48 for each of Millicom's shares in cash, which would value the Luxembourg-based company at about $5bn, according to people familiar with the situation."

China Net Investor: China Mobile is the world’s biggest mobile operator by subscribers