Industry News

China Tower creates over CNY 10 billion profit for China Mobile

Update time : 2016-07-01 09:21:55

At the shareholder meeting of China Mobile for 2015 held on May 26th, Li Yue, CEO of China Mobile said that China Tower brought over CNY 10 billion profit to it and the operator gave part of that to the shareholders in the form of dividends. China Mobile hopes China Tower will be listed as soon as possible, which makes it able to generate more rewards for China Mobile.

China Tower was founded in July 2014 with a registered capital of CNY 10 billion owned by three major telecom operators in China. China Mobile holds 40% of the holdings while China Telecom and China Unicom respectively hold 29.9% and 30.1%.

China Telecom and China Unicom also gain profits in accordance with their perspective portion of the overall holdings of China Tower.

Liu Aili, president of China Tower and deputy general manager of China Mobile, said at the shareholder meeting that China Tower will be listed in 2017 while the listing location is undetermined.

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