Wednesday, July 05, 2006

China Mobile to Continue Looking for Overseas Acquisitions

From Forbes:

"China Mobile will continue its search for overseas assets in spite of its decision to abort a 5.3 bln usd bid for Millicom International Cellular, the Financial Times reported, citing sources close to the company.

The collapse of talks between state-owned China Mobile and Luxembourg-based Millicom, in what would have been the largest overseas acquisition by a Chinese company, leaves the mobile operator with a large cash mound on its books."

China Net Investor: China Mobile is the world's biggest mobile phone provider with some 260 million subscribers


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