China Mobile buys 20% stake in Pudong Bank (Digital Media Europe)
(Telecompaper) China Mobile will buy a 20 percent stake in Shanghai Pudong Development Bank for a total cash consideration of CNY 39.80 billion. The company, through its subsidiary Guangdong Mobile, entered into an agreement with Pudong Bank to subscribe for 2.21 billion new shares in the bank, which will make China Mobile the second largest shareholder in the bank. China Mobile and Pudong Bank …
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