China Mobile Chairman and Chief Executive Wang Jianzhou said yesterday the company is interested in expanding in emerging markets, primarily in Asia and Africa.
According to the Dow Jones newswire, Jianzhou said China Mobile’s global expansion strategy isn’t focused on developed markets, such as Europe and North America, according to the transcript of a speech Wang made at the World Economic Forum in Tianjin.
The transcript, posted on the forum’s Web site, said China Mobile plans to invest US$800 million in its wholly owned Pakistan operator CMPak Ltd. this year to improve its network, having invested US$400 million in the company last year for network expansion.
China Mobile bought 100% of the Pakistan operator last year for US$460 million and renamed it Paktel from CMPak Ltd.
China Mobile has expanded the number of CMPak’s base stations to 4,000 from 800 since the acquisition took place, Wang said.