China Mobile gets go signal to buy Phoenix TV stake

China Mobile has secured regulatory approval to buy 983 million shares in Phoenix Satellite TV, a wholly-owned subsidiary of News Corp., according to local media.

A SinoCast report, quoting
China’s National Development and Reform Commission (NDRC), the country’s macro-economic regulatory department, said the 983 million shares take up 19.9% of Phoenix TV’s outstanding shares.

The NDRC further said China Mobile has become the second largest shareholder of Hong Kong-based Phoenix TV, a leading satellite television operator broadcasting into
China and the Asia-Pacific regions.

NDRC said that China Mobile and Phoenix TV have broad cooperation potential in mobile multi-media businesses including news, entertainment and video, and their partnership will be helpful for the two parties’ future development, the report said.

The acquisition is also widely regarded as a breakthrough in
China’s regulatory system on telecom and broadcasting networks, media reports said.

Source- http://www.telecomseurope.net

China Mobile looking for opportunities to tap emerging markets

As the dominant local company, China Mobile Communications Corp is seriously seeking opportunities to tap emerging markets worldwide, said the boss of the world’s top cellular carrier.

“If we finally make our mind up to go abroad, we will concentrate on emerging and developing markets, such as in Asia, Africa or Latin America,” said Wang Jianzhou, president of China Mobile.

China Mobile subscribers reach 274 million

HONG KONG, Aug. 17 (Xinhua) — China Mobile Communications Corporation (China Mobile) announced on Thursday that the number of the company’s subscribers increased by 25.77 million in the first half of 2006, bringing the total number to 274 million by June 30.

Wang Jianzhou, president of China Mobile, said at a press conference on Thursday that the company’s net profit in the first half of 2006 reached 30.17 billion yuan (3.78 billion U.S. dollars) , up 25.5 percent over last year’s same period. He said the interim dividend declared per share is 0.62 HK dollar, together with a special dividend of 0.09 HK dollar. Looking ahead, Wang said, the company will promote development of mobile telephone in rural areas and value added service, and make preparations for the 3G market planning and operation. He said the company will strengthen marketing and try to bring more long-term profit to its investors.

China Mobile is the No.2 stock of the Hang Seng Index of the Hong Kong stock market in terms of market capitalization.

Source- http://news.xinhuanet.com/english/2006-08/17/content_4974790.htm