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Technology Stocks : Vodafone-Airtouch (NYSE: VOD) -- Ignore unavailable to you. Want to Upgrade?

To: MrGreenJeans who wrote (3090)	2/27/2001 7:33:32 AM
From: MrGreenJeans	Read Replies (1) \| Respond to of 3175

COM) 27/02/01 08:15: Vodafone signs strategic alliance with China Mobile Vodafone signs strategic alliance with China Mobile LONDON (AFX) - Vodafone PLC said it has signed a strategic alliance with China Mobile (Hong Kong) Ltd providing for "close co-operation" in sharing technical, operational and management information and research and development. Vodafone said it wants to increase its equity stake in China Mobile (CMHK), currently just over 2 pct, should the opportunity for foreign telcos to invest further in the company become available. Vodafone chief executive Chris Gent has been appointed a non-executive director of China Mobile, the company said. The deal follows a statement of intent issued by the two companies on October 4, 2000. The deal, Vodafone said, is a "long term commitment" with China Mobile making Vodafone its preferred partner for all co-operation falling within the scope of the agreement, while for its part Vodafone is making China Mobile its sole strategic partner in mainland China. The deal, the company said, should lead to the creation of a common global mobile platform "with unprecedented opportunity for value creation". "This historic strategic alliance and the addition of Mr Chris Gent to our Board of Directors will greatly enhance the competitive strength of both China Mobile (Hong Kong) and Vodafone in addressing the rapidly changing and increasingly competitive mobile telecommunications market," said Wang Xiaochu, China Mobile's chairman and chief executive officer. "It will bring China Mobile (Hong Kong) one giant step closer to the goal of becoming a world-class, global wireless multi-media services provider." Vodafone's Gent said the deal will help China Mobile cement its position in China, which he described as "one of the fastest growing, largest and most exciting markets in the world". jsj/rn