China Mobile (Hong Kong) confirmed that it is to buy eight provincial networks from its parent for US$10.2bn. The provinces are all located inland, next to the 13 prosperous coastal provinces where the New York- and Hong Kong-listed company operates its current business (see page 16).
In a separate development, UK mobile phone operator Vodafone is to pay US$750m to increase its stake in China Mobile from 2.18 per cent to 3.27 per cent.