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Telco and bank tie up
By Zhang Fengming |
November 26, 2010, Friday
|
Print Edition
Print Edition
CHINA Mobile yesterday signed a strategic partnership with Shanghai Pudong Development Bank by paying 39.8 billion yuan (US$6 billion) for a 20 percent stake in the lender.
The world's biggest telco signed a deal to buy 2.2 billion yuan-backed A shares of the Shanghai-based bank earlier this year.
But Moody's Investors Service said earlier that the ''transaction could distract China Mobile during the rollout of the home-grown TD-SCDMA 3G mobile platform."
The world's biggest telco signed a deal to buy 2.2 billion yuan-backed A shares of the Shanghai-based bank earlier this year.
But Moody's Investors Service said earlier that the ''transaction could distract China Mobile during the rollout of the home-grown TD-SCDMA 3G mobile platform."
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