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BUSINESS & TECH

China Mobile Weighs Spinoffs for Separate Listings

China Mobile reported 2.9% revenue growth in the first half 2018 to 391.8 billion yuan. Photo: VCG
China Mobile reported 2.9% revenue growth in the first half 2018 to 391.8 billion yuan. Photo: VCG

China Mobile, the country’s largest wireless network operator, may spin off three or four subsidiaries for separate listings, Chief Executive Officer Li Yue said Thursday after discussing weaker growth momentum in first-half results.

Any spinoffs would involve subsidiaries with independent operations, less connection with the core business and discrete financials, Li said after a briefing in Hong Kong. Both the mainland markets and Hong Kong could be options for the potential listings, he said. But Li ruled out splitting off China Mobile’s Hong Kong subsidiary as doing so would contradict the company’s strategy of integrating its mobile businesses.

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