China Mobile denies plans to purchase Tencent

China Mobile has denied that it has any plans to purchase Tencent, the parent company of the QQ instant messenging service, the Wall Street Journal reported. The mobile operator made the statement in an effort to dispel rumors regarding a possible acquisition. Rumors began after Chinese internet portal Ifeng.com cited sources stating China Mobile officials visited Tencent headquarters and discussed a possible acquisition. China Mobile spokeswoman Rainie Lei called the rumours "groundless." China Mobile is also fighting off negative press surrounding the firing of its vice president Zhang Chunjiang, for "serious economic problems," as reported by the Financial Times over the weekend.