[July 06, 2009] China Mobile: Not in Talks for ICBC Stake Tweet BEIJING, Jul 06, 2009 (SinoCast Daily Business Beat via COMTEX) -- China Mobile Ltd. (SEHK: 0941 and NYSE: CHL) lately denied the earlier report that its parent company was eyeing a minority stake in Industrial and Commercial Bank of China (ICBC, SEHK: 1398, and SHSE: 601398). China Mobile's parent is not in talks with the bank as rumored, according to a spokesperson for the New York- and Hong Kong-listed telecom company. There were rampant reports that China Mobile Communications Corporation, encouraged by the State-owned Assets Supervision and Administration Commission (SASAC), was in talks to buy an ICBC stake. ICBC, on the other hand, said it was not informed with the aforesaid market hearsay, noting that the company would make any possible equity-related deal known if necessary. Notably, Goldman Sachs Group, Inc. (NYSE: GS), one of the ICBC strategic investors, sold 3.03 billion ICBC H shares in June, two months after Allianz Group and American Express lightened their holdings in the Chinese bank. Source: dycj.ynet.com (July 06, 2009) [ Back To TMCnet.com's Homepage ]