China Mobile Accused of Damaging Market Competition, Chinese Media Says
Investing.com - China Mobile Ltd (HK:0941) is currently undergoing antitrust probe by China’s State Administration for Market Regulation over "market domination", Hong Kong Economic Times reported citing sources from the Capitol Forum. The news pulled its ADR shares down by 1.4% overnight.
The probe, currently still in the initial stage, is to investigate whether the company has engaged in exclusive dealings and anti-competitive actions, according to the report.
In 2009, an investigation into former vice chairman Zhang Chunjiang found his guilty and Zhang was subject to a death sentence with reprieve for taking over $1.2 million in bribes. The telecommunication company was again involved in corruption scandals in 2013.
The company's H shares trading in Hong Kong last traded at $76.55, up 0.7%.
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