China Mobile invests $5.8B for 20 pct stake in Shanghai Pudong Bank to develop mobile banking
By APWednesday, March 10, 2010
China Mobile investing $5.8B in Chinese bank
HONG KONG — China Mobile Ltd., the world’s biggest phone company by subscribers, said Wednesday it was investing $5.8 billion in a Chinese bank as part of a plan to develop mobile phone banking and business services.
Under the agreement, China Mobile will pay 39.8 billion yuan ($5.8 billion) in cash for 20 percent of Shanghai Pudong Development Bank, the cell phone company said in a statement to the Hong Kong stock exchange.
The two companies plan to work together to develop mobile phone services involving customer payments, bank cards, money transfers and other so-called e-commerce businesses.
Shanghai Pudong Development Bank is a mid-sized lender based in Shanghai.
Tags: Asia, China, Communication Technology, East Asia, Greater China, Hong Kong, Mobile Communications, Shanghai
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May 26, 2010: 7:46 am
China mobile company always investing a lot of money mobile communication and earn more and more profit. |
 MIKE |
May 21, 2010: 3:05 am
i now selling my mobile communications product, for the local international area,who now buy my product can reply my email,this product is registeder in 2005? |
china electronics