By Graham Hayday, 17 May 2002 08:20
NEWS Vodafone is to pay $750m to increase its holding in China Mobile, the country's largest mobile operator. The deal will see Vodafone's share in the company rise to 1.1 per cent, following its original $2.5bn investment 15 months ago. Vodafone chief executive Sir Chris Gent is quoted by today's Daily Telegraph as saying: "I expect further benefits to arise from an increasing level of co-operation between the world's two largest mobile operators." Mobile subscriber numbers are growing at a rate of five million a month in China.
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