China Mobile expresses interest in CSL

25 Jan 2005

China Mobile is rumoured to be planning a USD1.8 billion bid for Hong Kong’s second largest cellular operator Hong Kong CSL. According to the Financial Times, the Chinese firm is keen to expand overseas in the face of increasing competition in its home market. CSL, owned by Australian incumbent Telstra, recently launched a 3G service in the SAR, but has thus far failed to deliver the expected returns the Australian company had hoped for. Nonetheless, Telstra yesterday denied that the company is for sale. CSL currently has around 1.5 million users and a market share of 19%.

Hong Kong, China Mobile, Telstra (incl. Belong)