China Mobile is also turning its sights overseas. Its $284 million purchase of Paktel, likely to…

China Mobile
is also turning its sights overseas. Its $284 million purchase of Paktel,
likely to conclude in late February, 2007, will be the company’s first overseas
acquisition, though early last year it bought Hong Kong’s No. 4 mobile company,
People’s Telephone, with 1.1 million subscribers. Last summer, China Mobile
made a $5 billion-plus play for Luxembourg’s Millicom International
Cellular—Paktel’s parent—which has mobile networks in Africa and Latin America
as well as Asia. But negotiations broke down due to concerns about the big
price tag, analysts say. While Wang declined to
»

China Mobile
is also turning its sights overseas. Its $284 million purchase of Paktel,
likely to conclude in late February, 2007, will be the company’s first overseas
acquisition, though early last year it bought Hong Kong’s No. 4 mobile company,
People’s Telephone, with 1.1 million subscribers. Last summer, China Mobile
made a $5 billion-plus play for Luxembourg’s Millicom International
Cellular—Paktel’s parent—which has mobile networks in Africa and Latin America
as well as Asia. But negotiations broke down due to concerns about the big
price tag, analysts say. While Wang declined to comment on the collapse of the
Millicom talks, he says China Mobile is interested in acquisitions in other
developing countries: “We are familiar with emerging markets. Their experiences
may be very similar to ours.”

»

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