In its first overseas acquisition, China Mobile Communications has acquired a 88.86 per cent stake in Paktel from MillicomInternational Cellular for $284 million (including the company’s debtrepayment).

In its first overseas acquisition, China Mobile Communications has acquired a 88.86 per cent stake in Paktel from MillicomIn. With this new development, China Mobile will rebrand and relaunch Paktel with additional investment in equipment and marketing. Paktel is the fifth largest mobile operator in Pakistan with 1.5 million subscribers as of September 30, 2006, a 62 per cent increase over the previous year.