According to Wang Jianzhou, chairman of China Mobile, the company plans to get back from the Hong Kong share market and seek a listing in Shanghai.
Wang said if the policy allows, China Mobile prefers to issue China Depositary Receipts instead of A-shares, because the listing procedures of CDRs are simpler. In addition, issuing CDRs will not increase the number of its shares, which will not affect the rights and interests of its current shareholders. He added that the company expects to list in the Chinese mainland share market as soon as possible to enable domestic investors to invest in the company.
In regards to China Mobile's acquisition of the 12% stake in Far Eastone Telecommunications in Taiwan, Wang said the company is optimistic about the approval by the regulatory bodies in Taiwan. Once the transaction, which involves USD536 million, is approved by the shareholders of Far Eastone Telecommunications, China Mobile will immediately apply for regulatory approval. In addition, the company will seek other overseas acquisition opportunities, but the business focus of China Mobile is still on the Chinese domestic market.
Commenting on China Mobile's 3G services, Wang said the company has invested CNY600 million to develop TD-SCDMA mobile phones with six Chinese and foreign manufacturers. Of these mobile phones, 11 types will be launched this year and at least 30 types of high-end mobile phones will be unveiled in 2010.