China Mobile acquire Tencent

In a statement over the weekend, China Mobile spokeswoman Rainie Lei said recent media reports that China Mobile is in talks with Tencent is “groundless.” Hong Kong-listed Tencent runs the popular Chinese instant messaging system QQ.

The statement came after local Internet portal Ifeng.com cited sources as saying over the weekend that a China Mobile delegation led by the company’s president Wang Jianzhou visited Tencent headquarters and the two sides held a discussion over the potential acquisition.

China Mobile launched its own instant messaging service, Fetion, in 2006, to attract more subscribers as part of an effort to increase its revenue.

According to the Xinhua report, by the end of September, Fetion ranked the third among instant message programs after Tencent and Microsoft Corp.’s MSN.

Source : Konaxis

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