Mobile shareholder approves the purchase of Pudong hair

Xinhua News (reporter Zhao) yesterday, China Mobile in the HKEx issued a notice, the Chinese mobile shareholders have written approval of China Mobile wholly-owned subsidiary of Guangdong Mobile and Pudong Fat Bank signed a share subscription agreement.　　According to the agreement signed on March 10, the two sides agreed to move Guangdong to buy 2.2 billion new shares in Pudong bank by 39.8 billion yuan. After the deal is completed, China Mobile will hold 20% per cent of Pudong bank and become the second largest shareholder of Pudong Bank through its wholly owned subsidiary, Guangdong Mobile. March 30, Pudong FA Bank shareholder meeting has passed to move directional additional issue of the bill.　　However, the transaction still needs to be approved by the relevant national ministries before it can be implemented.　　The two sides will jointly study and develop other types of mobile communications and financial products bundled services, as well as the future of mobile finance and mobile E-commerce in the new technologies, new products jointly conduct in-depth research, the mobile can nominate Pudong 2 independent directors, and at least 1 independent directors.　　Shanghai Pudong Bank has 33 direct branches and 565 outlets in the mainland, while Shanghai Pudong Bank also has 5 subsidiaries in China and has a representative office in Hong Kong. "Mobile E-commerce is an extension of our core business and we just want to move forward in terms of mobile payments," Mr Wang, chairman of the move, said earlier on the acquisition.