China Mobile Communications is making its first cross-border acquisition, buying Paktel in Pakistan at an enterprise value of $460 million. It will pay Millicom of Sweden - which owns 88.86% of Paktel û a cash consideration of $284 million. The deal has been concluded in almost record time since Millicom announced it in November last year.
China Mobile Communications owns 75% of NYSE and HK-listed China Mobile. China is the worldÆs largest cell phone market measured in terms of number of users and China Mobile is at the forefront of that revolution with the worldÆs largest mobile subscriber base. It provides mobile telecommunications and related services in 31 provinces in mainland China.
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