China Mobile shares fell half a per cent, after announcing it would spend HK$6.82bn to take an 18 per cent stake in True Corp, one of Thailand's largest telecom providers.
China Mobile, which boasts the world's largest mobile network, said late on Monday it would buy the shares for 6.45 baht each, about HK$1.54, reflecting a 13 per cent discount to their last trading price.
For China Mobile, the move signals the company is looking for growth elsewhere as its domestic market slows, according to Nomura.
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