November 25, 2010 / 10:07 AM / in 7 years

China Mobile, SPD Bank sign deal for mobile services

SHANGHAI, Nov 25 (Reuters) - China Mobile (0941.HK), the world’s biggest mobile operator, said on Thursday it had signed an agreement with Shanghai Pudong Development Bank to cooperate in areas of mobile finance and mobile e-commerce.

    China Mobile and SPD Bank (600000.SS) will cooperate in areas including on-site payment and remote payment services and share customer service resources, China Mobile said in a filing to the Hong Kong stock exchange.

    China Mobile said in August it would hold its 20 percent stake in SPD Bank for five years, two years longer than previously announced. [ID:nLDE67U180]

    China Mobile said in March it would pay $5.8 billion for its SPD Bank stake to help China Mobile strengthen its foothold in China’s nascent mobile e-commerce sector. (Reporting by Melanie Lee; Editing by Jason Subler)

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