Vodafone sees China Mobile as gateway into China

Vodafone sees China Mobile as gateway into China.
Vodafone, the world's biggest mobile phone company, says it hopes to increase its stake in China Mobile HK Ltd. to at least 15% from its initial stake of about 2% as it seeks to penetrate China's potentially vast market for mobile telecommunications services.

UK-based Vodafone agreed to pay $2.5 billion in cash for a stake in China's biggest mobile phone company. The company says it considers the investment a sound one in its own right, but that the main purpose of taking the stake is to build a preferential relationship with China Mobile that will lead to a greater equity stake later.

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