Copying and distributing are prohibited without permission of the publisher
China Mobile interested in 20% bank stake
01 March 2010
China Mobile is considering taking a 20% stake in a Shanghai bank, according to reports from China
Read more:
China Mobile
mobile banking
Shanghai
SPD
Shanghai Pudong Development Bank
China Mobile is believed to be planning to take a 20% stake in Shanghai Pudong Development Bank, as part of a plan to develop mobile banking services.
Unconfirmed reports from China say that the world’s largest mobile operator is expected to spend $5.9 billion on the stake. The reports are based on a note from a brokerage company.
SPD Bank’s shares have been suspended from trading, apparently waiting an announcement of strategic investors. GTB