HONG KONG: China Mobile (Hong Kong) Ltd, the world's largest cell-phone company by users, is taking over Hong Kong-based China Resources Peoples Telephone Co in its first acquisition outside mainland China.
Shares in Peoples Telephone, one of the city's smallest mobile-phone operators, were yesterday suspended from trading and the company would be delisted. The remaining shareholders are required to sell to China Mobile after 99.68% accepted the takeover offer.
