"An investment may give the world’s largest phone company by users a platform to offer wireless-banking services to more than 527 million customers in the fastest-growing major economy. The investment would help replenish capital at the Shanghai-based bank after Chinese lenders extended a record 9.59 trillion yuan of credit last year.
'China Mobile has been trying to grow its mobile payment business, and a deal would provide some synergies,' said Alex Lee, who rates the listed China Mobile’s stock 'hold' at Taifook Securities in Hong Kong." >> Continue Reading
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