China Mobile says Vodafone in talks to raise stake, but no deal agreed

HONG KONG (AFX-ASIA) - China Mobile (Hong Kong) Ltd chairman Wang Xiaochu  said Vodafone Group Plc has been in talks with China Mobile to raise its  stake in the company.      "But, we have not reached any agreement. I want to emphasize China Mobile  will not sell its stake or issue new shares unless it has any concrete  acquisition plan," Wang said.      Currently, Vodafone owns about 2.5 pct of China Mobile after the Chinese  mobile phone operator issued new shares to fund the acquisition of seven  mobile phone networks from its parent last October.      "Vodafone has expressed an interest in raising its stake in China Mobile  to 20-25 pct in the future. I do not think the target has changed," Wang said.      Wang said through the stake sale, China Mobile and Vodofone have set up a  close strategic alliance.     "Vodafone is working with us to introduce advanced management mechanisms  and sharing operational experiences. We have become close allies," Wang said.

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