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MeneameChinese mobile telephony group China Mobile plans to expand its overseas operations to emerging markets in Asia and Latin America, international press reported China Mobile CEO Wang Jianzhou as saying.
Jianzhou said the company will focus on countries with a similar level of development as China or slightly behind.
"The main purpose of going global is to create more opportunities to make profit, everything should be judged by this criterion. We must be careful in choosing target companies," the executive said.
Jianzhou also said China Mobile has no interest in mature markets in North America and Western Europe.
Earlier this year, China Mobile was reportedly in talks to acquire the operating units of European mobile holding company Millicom International Cellular (Nasdaq: MICC). Millicom has five Latin American units: Telemóvil in El Salvador, Telecel Paraguay, Telecel Bolivia, Comcel in Guatemala and Celtel in Honduras.
However, in July, Millicom abandoned talks to sell its units.
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