China Mobile says no plan to tap into India market

China Mobile<941>, the nation's leading mobile phone company, said the company has no plant to enter India's telecom market, according to the Chinese company's spokesperson Rainie Lei, sources reported.

A local media in India earlier reported that Wang Jianzhou, CEO of China Mobile, said the company will tap into India's mobile phone market by acquiring some local businesses as part of the company's global expansion plan.

Sources said that India's telecom market has great potential, with new subscribers increasing 9 million per month, which will attract lots of investors.

In response, Lei said that the company's CEO did not make such statements.

As the world's biggest telecom carrier in terms of subscribers, China Mobile has been seeking overseas expansions. The company acquired Paktel in February 2007 for US$460 and bought a license from Millicom to operate the GSM network in the country, and later changed the name into China Mobile Pak (CMPak). Recently, the company said it will invest US$500 million in CMPak this year, according to earlier report.


Source: news.alibaba.com/