China Mobile intends to HK $2 billion 250 million acquisition of Hongkong's top fifth operators

Beijing on October 5th news, according to Hongkong media reports, Hongkong's fifth largest mobile operator Huarun peoples said that the proposed move to HK $4.55 per share, a total of HK $2 billion 250 million to buy 66.5% shares of Huarun peoples. If the deal is reached, it will be the first time to move into the mainland outside the telecommunications market.

Huarun peoples said, moving with the controlling shareholder of the company Huarun group and executive director Liang Qixiong yesterday on the possible sale of the company's equity signed a non binding memorandum of understanding.

Huarun group and Liang Qixiong were holding 48% and 18.54% stake in Huarun peoples. Huarun said the discussions are still in the preliminary stage, has not yet reached binding terms.

If the acquisition is successful, the mobile market in Hongkong and the other five telecom operators to compete, including Li Jiacheng and his son Li Zekai holding the pccw. Hongkong Telecom analyst Francis Cheung believes that due to the people of and has not been a 3G license, the move may be in Hongkong to further acquisitions.

In June this year, China Mobile parent company China Mobile group launched the first overseas acquisition, bidding for state-owned enterprises in Pakistan Pakistan Telecom 26% shares of HK $10 billion 780 million, but the price eventually lost HK $19 billion 890 million at the United Arab Emirates telecommunications. China Mobile Company's first large-scale overseas acquisitions abortion.