china-mobile-invests-58-billion-in-shanghai-pudong-development-bank

China Mobile invests $5.8 billion in Shanghai Pudong Development Bank

China Mobile aims to tap into the growing potential for mobile finance and mobile e-commerce through a 20% stake in Shanghai Pudong Development Bank.
March 12, 2010

China Mobile will pay Rmb39.8 billion ($5.8 billion) for a 20% stake in Shanghai Pudong Development Bank (SPDB) as the two firms aim to tap into the market for mobile payments.

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