China Resources Peoples Telephone Company has said that its controlling shareholders have entered into a preliminary agreement to sell all their outstanding shares in the mobile phone operator to China Mobile (Hong Kong) for HK$4.55 per share. According to officials, the company’s controlling shareholders ?? China Resources (Holdings) Company (CRH), Michael Leung Kai Hung and Onwel Capital ?? have entered into a non-binding memorandum of understanding with China Mobile for a possible disposal of their shareholdings in the company. CRH holds about 48 per cent of the issued share capital of China Resources Peoples Telephone Company, while Leung, who is an executive director of the mobile phone operator, and Onwel Capital hold about 18.54 per cent.
