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China Mobile changes assets strategy

(Agencies/China Daily)
Updated: 2008-04-15 09:24

A pedestrian makes a phone call in front of a China Mobile billboard in Beijing. China Mobile has dropped its policy of only pursuing investments that result in management control.[China Daily]

China Mobile Communications Corp, owner of the world's most valuable phone company, has dropped its policy of only pursuing investments that result in management control, after competition for phone assets drove up share prices.

"In the past, the only policy was: we have to get majority shares," chief executive Wang Jianzhou said. "But now, we are changing the policy."

The strategy shift widens the number of possible investments for China Mobile Ltd's State-owned parent, which made its first international acquisition last year through the purchase of Pakistan's Paktel Ltd.

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