HONG KONG -(Dow Jones)- Neither China Mobile (Hong Kong) Ltd. nor its Chinese parent, China Mobile Communications Corp., is involved in the bidding for Millicom International Cellular, a spokeswoman for the Hong Kong company said Thursday.
The Financial Times reported Thursday the largest mobile operator in China by subscribers is among the bidders for Millicom International Cellular, a Nasdaq-listed mobile phone carrier focused on emerging markets.
"The Hong Kong-listed company is not involved in the bidding process...we haven't heard that our mainland parent is involved in the process," said Rainie Lei, a corporate communications manager for China Mobile (Hong Kong) Ltd.
Millicom operates in five major regions: Southeast Asia, south Asia, Central America, South America and Africa with networks in countries such as Cambodia, Vietnam, El Salvador, Guatemala, Pakistan and Sri Lanka.
Last month, China Mobile (Hong Kong) Chairman Wang Jianzhou said the company's parent was seeking to acquire carriers in emerging markets.
"If the companies our parent acquires run well, then there's a chance they will be injected into the listed company," said Jiang.
China Mobile was one of the final three bidders for a 26% stake in Pakistan Telecommunications last year, but the stake was eventually won by United Arab Emirates-based Emirates Telecommunications Corp, or Etisalat.
-By Ernest Kong, Dow Jones Newswires; 852-2802-7002; ernest.kong@dowjones.com
-Edited by Theresa Davidovitz and Andrew Bullard
(END) Dow Jones Newswires"
Posted to the site on 20th April 2006
Posted to: www.cellular-news.com/story/17050.php