China Mobile (CHL) has entered into an agreement with Millicom International Cellular S.A. to purchase 88.86% of the outstanding shares of Paktel Limited, a mobile communications operator in Pakistan.

The transaction implies an enterprise valuation for Paktel Limited of US$460 million.

Completion of the transaction is subject to the receipt of certain regulatory approvals. If such approvals are obtained, completion is expected to occur in late February 2007.