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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 (3127)	4/9/2001 5:45:47 PM
From: MrGreenJeans	Read Replies (1) of 3175

17:35 ET CHINA MOBILE SAYS VODAFONE IN TALKS TO RAISE STAKE, BUT NO DEAL AGREED HONG KONG, Apr 09, 2001 (AFX-Asia via COMTEX) -- China Mobile (Hong Kong) Ltd chairman Wang Xiaochu said Vodafone Group Plc has been in talks with China Mobile to raise its stake in the company. "But, we have not reached any agreement. I want to emphasize China Mobile will not sell its stake or issue new shares unless it has any concrete acquisition plan," Wang said. Currently, Vodafone owns about 2.5 pct of China Mobile after the Chinese mobile phone operator issued new shares to fund the acquisition of seven mobile phone networks from its parent last October. "Vodafone has expressed an interest in raising its stake in China Mobile to 20-25 pct in the future. I do not think the target has changed," Wang said. Wang said through the stake sale, China Mobile and Vodofone have set up a close strategic alliance. "Vodafone is working with us to introduce advanced management mechanisms and sharing operational experiences. We have become close allies," Wang said.

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