China Mobile (Hong Kong) completes Peoples takeover

29 Mar 2006

Chinese mobile market leader China Mobile (Hong Kong) has announced the completion of its acquisition of Hong Kong-based cellco China Resources Peoples Telephone (Peoples), which was agreed in January. Following the transaction, Peoples is a wholly owned division of China Mobile (Hong Kong) via a subsidiary, Fit Best. Peoples’ listing has been removed from the Hong Kong stock exchange this week.