China Mobile,Vodafone to work on 4G

TIANJIN, CHINA: China Mobile Ltd will still work with Vodafone Group Plc on developing a common 4G mobile telecommunications standard, its chairman said on Monday, even after the British company sold its $6.5 billion stake in the Chinese operator.

Vodafone's sale of its 3.2 percent holding in the world's biggest mobile carrier also removed the uncertainty that had surrounded its share price, China Mobile Chairman Wang Jianzhou told reporters on the sidelines of the World Economic Forum.

"We've worked with Vodafone for ten years, and this will continue," Wang said. "Areas we intend to work together on include developing new markets together, technology, and green development."

The sale of its China Mobile shares was part of Vodafone's new strategy to exit non-strategic minority investments, which analysts believe have weighed on Vodafone's overall value in recent years.