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China Mobile eyes telecoms assets in emerging markets

Published: 19 Nov 2008 17:36:43 PST

Nov. 19, 2008 (China Knowledge) - China Mobile Ltd<941><CHL>, the country's largest mobile phone operator, is seeking opportunities to acquire telecoms assets in emerging markets, including Asia, to diversify its operations as domestic competition has been intensified after the reshuffle of China's telecommunication industry, chairman Wang Jianzhou said on Tuesday.

Wang revealed China Mobile will be rational in making any overseas acquisition decisions, adding the company did not have any specific target at present.

Wang noted that the relatively low prices of telecoms assets in emerging markets would bring China Mobile opportunities as it currently holds sufficient cash.

China Mobile is still in talks with Apple on launching iPhone in mainland market, but no final agreement has been reached yet, according to Wang.

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