China Mobile to investigate HKTV deal
8 Jan – Mainland Chinese company, China Mobile revealed that they are launching an investigation into its subsidiary, China Mobile Hong Kong for possible violation of its rules.
According to South China Morning Post, the company announced on its official website on 6 January, stating that they will be looking into China Mobile Hong Kong's transaction with a Hong Kong TV network company (HKTV).
It was revealed that the investigation will determine whether the transaction complied to the regulations of the "State-owned Assets Supervision and Administration Commission of the State Council as well as the internal management system of the company".
However, when asked about the probe, HKTV stated that the transaction, a HKD 142 million acquisition (approx. USD 18.3 million) on its part last month as a step into its latest mobile television venture, was a done deal. It also refused to further comment on the issue, stating that the investigation is an internal matter.
Meanwhile, China Mobile Hong Kong has declined to make any comment.
