Mr Wang: Mobile wants to return a shares via CDR

Piano, chairman of China Mobile, said yesterday after attending the shareholder meeting that the group was proposing to list in the mainland through depository receipts (CDR), hoping to become one of the first listed state-owned companies to return in this form, while individuals hoped the process would be as fast as possible, but there was no specific timetable. Mr Wang said that the market capitalisation of the move should be returned to the mainland stock market early, and the company's share price has come down from the peak, which is believed to be attractive to mainland investors.　　As for the mobile trend to be listed in CDR rather than issue a-shares, Mr Wang said that the main hope was to extend the consistency of corporate governance, supervision and disclosure, which would be more suitable and beneficial to the company. 　　Mr Wang admits that mobile has been listed in Hong Kong and the United States for 12 years, has been looking to return to the mainland listing, so that mainland investors enjoy the opportunity to invest, and the company has been preparing a A-share listing, but so far for a variety of reasons has not been achieved.　　Mr Wang also revealed that China Mobile has spent 600 million yuan to cooperate with terminal handset manufacturers to research and development, this year mobile phone manufacturers promised to launch 6 high-end mobile phones, tomorrow will launch more than 30 high-end mobile phones. However, on the 3G progress, Mr Wang admits that TD-SCDMA technology is immature and needs more government support. 　　The TD-SCDMA network is currently being optimized, and China Mobile needs to make efforts in promoting and subsidizing the early development of TD-SCDMA. On the issue of the industry's long-awaited iphone entry into China, Mr Wang stressed that China's mobile door was open and welcomed Apple and other terminals into the market. Mr Wang has also repeatedly said he is open to cooperation with Apple, but has yet to reach any agreement.　　It was previously reported that China Unicom has "taken advantage" in this matter, will be in the WCDMA test business, the introduction of the iphone, but the current unicom to introduce the iphone has not yet been the end result. On overseas acquisitions, Mr Wang said China Mobile would continue to focus on overseas mergers and acquisitions in the future, apart from concentrating on mainland operations. Mr Wang said that "in the current financial crisis, the valuation of overseas assets has been reduced, which is now a suitable opportunity for mergers and acquisitions, but the external factors remain unclear, and we will deal with overseas mergers and acquisitions in a prudent manner." According to previous disclosures, China Mobile's latest foreign takeover was on April 29. 　　China Mobile plans to spend more than NT $17.77 billion (about HK $4.08 billion) on a 12% per cent stake in Taiwan Tele-transmission, a strategic investment shareholder. In response, Mr Wang said the company's plans to buy 12% of Taiwan's tele-telecommunications program had been supported by the Board of directors, but the deal remained to be agreed by the shareholders ' and the governments concerned.