Telecom & Wireless

Goldman Sachs: China Mobile's Punishment Affects No More Than 1% Of Total Revenue

Securities company Goldman Sachs has stated that China Mobile's punishment of Tencent should have only a slight influence on the company's finances, accounting for less than 1% of the company's total income.

Last week, China Mobile announced that they would be temporarily terminating a code service for Tencent's voice magazine. The revenue for that particular service in August was only CNY1 million, accounting for less than 1% of the company's total.

Since several new services had been approved before the punishment was imposed, Tencent's share price is expected to remain unchanged.

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