China Mobile may adopt China Unicom's model for A-share listing

Aug. 12, 2009 (China Knowledge) - China Mobile Ltd<0941><CHL>, the country's largest telecom operator, is likely to mimic China Unicom (Hong Kong) Ltd<600050><0762><CHU> and list on the RMB-denominated A-share market, said an analyst at Macquarie Securities Group, sources reported.

China Mobile may choose not issue China Depositary Receipts or list on the international board for foreign and red-chip companies, said the analyst, adding that the company may choose to sell some of its shareholders' shares for a domestic listing, diluting its shareholders' stakes.

The move would have little impact on China Mobile's parent, China Mobile Communications Corp.

Local media last week reported that the telecom operator has chosen China International Capital Corp as the underwriter for its proposed domestic listing in Shanghai.

The company aims to list in the domestic market as early as mid-2010.

China Mobile was listed on the New York Stock Exchange and the Hong Kong Stock Exchange in October 1997 and was admitted as a constituent stock of the Hang Seng Index in Hong Kong in January 1998.