China Mobile confirms People’s purchase

24 Oct 2005

China Mobile (Hong Kong) has formally announced that it will pay HKD3.38 billion (USD433 million) to buy 744 million China Resources People’s Telephone shares at HKD4.55 each. People’s Telephone claimed a total of 1.21 million mobile subscribers at 30 June 2005, a market share of 15.3%.

Hong Kong, China Mobile Hong Kong (CMHK, formerly Peoples)