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China Mobile bids to take first global step
Contributed by: SHA, at 3/15/2005 05:35:00 PM.

China Mobile Communications Corp's bid for a controlling stake in Pakistan Telecommunications Co (PTCL) could, if successful, pave the way for more overseas acquisitions by Chinese telecoms operators, analysts said.
Pakistan's Privatization Commission said over the weekend that eight foreign firms including China Mobile had been shortlisted for a second-round bid for a 26 per cent stake in State-owned PTCL.
The sale of the stake could be worth US$1.9 billion and the buyer will be granted management control.
Chen Jinqiao, a researcher with the China Academy of Telecommunication Research under the Ministry of Information Industry (MII), said China Mobile's bid may mark the beginning of a buying spree by Chinese operators in overseas markets.

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