China Mobile Communications Corporation (中国移动通信 Zhongguo Yidong Tongxin), also known as China Mobile or CMCC, is China's and the world's largestmobile phone operator, with over 130 million customers as of 2003. A state-owned enterprise, it was spun off from former monopoly China Telecom in 2000, and now has a 37.4% share of the highly competitive Chinese mobile market.
ChinaMobile Communications Corporation (中国移动通信 Zhongguo Yidong Tongxin) SEHK: 0941NYSE: CHL）, also known as ChinaMobile or CMCC, is the People's Republic of China's largest mobile phone operator.
It is the world's largest mobile phone operator ranked by number of subscribers, with over 200 million customers.
A state-owned enterprise, it was spun off from former monopoly China Telecom in 2000, and now has a 37.4% share of the highly competitive Chinese mobile market.
ChinaMobile will pay US$8.57 billion in cash, shares and a loan from its parent, and assume US$1.63 billion in debt in a deal to be completed by the end of June.
China's two fixed-line giants China Telecom and China Netcom, which were both launched on Thursday as part of Beijing's broad reform of the telecoms sector, are expected to receive mobile network licences within 18 months.
ChinaMobile, which unlike most big telecoms carriers enjoys a net cash position, said the deal will be accretive to 2002 earnings by 2.7 percent after amortising goodwill.
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