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Technology Stocks : Vodafone-Airtouch (NYSE: VOD)

VOD 13.10

+0.3%

Dec 24 12:59 PM EST

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To: MrGreenJeans who wrote (3126)	4/9/2001 3:43:45 PM
From: MrGreenJeans	Read Replies (1) of 3175

MGJ I have an Answer for you... 7:25am 04/09/01 Vodafone to boost China Mobile stake (VOD, CHL) By Vivian Chu U.K. mobile phone giant Vodafone Group (VOD) plans to stick to its original intention of eventually raising its 2 percent stake in China Mobile (CHL) to 25 percent, despite increasing concerns over the Chinese carrier's growth, said China Mobile chairman Wang Xiaochu on Monday. Vodafone will subscribe to new shares in China Mobile, the mainland's biggest wireless operator, though Wang didn't give a timetable for the plan. Last October, Vodafone paid $2.5 billion in cash for the stake in China Mobile as part of a strategic alliance designed to give it a foothold in the world's fastest growing mobile phone market. The two companies are currently working together on marketing and technical issues in Shanghai, and will later expand their cooperation to other parts of China, Wang said. On Monday, China Mobile released its year-end results and posted a worse-than-expected net income of 18 billion yuan ($2.02 billion) in 2000, up 276 percent from a year earlier. Earnings per share were 1.25 yuan (15 cents) compared with 0.4 yuan in 1999. Shares of China Mobile ended down 1.8 percent to 32.40 Hong Kong dollars. Keep up the good work!

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