China Mobile plans to invest in Brazil and Portugal

29 January 2013

China Mobile, the world’s largest mobile phone operator by number of customers, has started analysing the macroeconomic climate of five countries in order to invest in them, Chinese English-language newspaper the Morning Whistle reported.

The board of China mobile, which is considering investing in Germany, South Africa, Brazil, Portugal and North Korea, invited consulting companies interested in carrying out the studies to make proposals.

In March 2012 the chairman of the company, Wang Jianzhou, said that the board planned to expand the company’s business to other markets but that this had not been possible due to the high price of acquiring companies that were already set up in those markets.

In 2007 China Mobile paid US$560 million for Paktel, Pakistan’s fifth largest mobile phone carrier, which is now known as CMPak.

CMPak remains Pakistan’s fifth largest operator by number of customers due, the newspaper said, to China Mobile’s inability to assert itself in markets where it is not supported by the government. (macauhub)