China Mobile Parent to Boost Stake in Listed Unit for Up to $789 Million

(Bloomberg) — China Mobile Ltd.’s parent plans to increase its stake in the wireless carrier by buying as much as 5 billion yuan ($789 million) of its Shanghai-traded shares.

China Mobile Communications Group Co. Ltd. intends to buy 3 billion yuan to 5 billion yuan of the listed firm’s A-shares by the end of this year, according to a filing with the Shanghai stock exchange Sunday. The company didn’t specify a purchase price for the shares.