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March 5, 2010, 1:05 a.m. EST

China Mobile in talks with Apple over iPhone

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By MarketWatch

BEIJING (MarketWatch) -- China Mobile Ltd. /zigman2/quotes/204514293/composite CHL -0.52% Chairman Wang Jianzhou said Friday the telecommunications firm has been in talks on cooperating with Apple Inc. (APPL) with regards to the U.S. firm's iPhone.

Apple's partner for the iPhone in China is China Unicom (Hong Kong) Ltd. (CHU).

Wang also said China Mobile's planned investment in Shanghai Pudong Development Bank Co. (600000.SH) will benefit shareholders in both the short and long term.

So far, the planned deal meets regulatory requirements, Wang said on the sidelines of the National People's Congress.

Earlier this week, China Mobile said it was in talks to buy a stake in the medium-sized Chinese lender, in a potential deal that could lead to its first major investment outside of its core mobile business and help it to expand into mobile e-commerce.

At the time, Wang said the two companies had agreed on the stake size, but other details are being ironed out.

China Mobile is the world's largest mobile operator by subscribers.

/zigman2/quotes/204514293/composite
US : U.S.: NYSE
$ 32.54
-0.17 -0.52%
Volume: 998,667
Sept. 28, 2020 4:00p
P/E Ratio
8.86
Dividend Yield
5.81%
Market Cap
$133.02 billion
Rev. per Employee
$239,645
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