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2009-7-3 09:45:00 a.m. HKT, XFNA
DJ China Mobile's Parent May Buy Shares In ICBC - Report
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| HONG KONG (Dow Jones)--China Mobile Ltd.'s (CHL) parent may buy shares in Industrial & Commercial Bank of China Ltd. (1398.HK), the country's largest bank by assets, following encouragement from the country's state assets regulator, the China Daily reported Friday, citing people with knowledge of the matter.
Discussions between the State-owned Assets Supervision and Administration Commission and China Mobile's parent, China Mobile Communications Corp., are still at an early stage, the newspaper reported.
The move is part of efforts by SASAC, which oversees 138 of China's biggest non-banking state-owned enterprises, to encourage cash-rich state-owned firms to combine industrial and financial capital, the paper said.
Newspaper Web site: http://www.chinadaily.com.cn -By Hong Kong Bureau, Dow Jones Newswires; 852-2802-7002; djnews.hongkong@dowjones.com
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