China Mobile contemplates domestic share sale

15 Dec 2005

China Mobile is planning to sell shares domestically to augment its listings in Hong Kong and New York. According to local sources, the cellco, which has almost 240 million mobile subscribers, is considering offering China Depositary Receipts (CDRs) in a local listing, although no time frame has been set for such a sale. Analysts have reacted with a degree of indifference however, saying such a move to open its stock to domestic investors would prove ‘neutral to slightly positive’ for the company.