China Mobile, China's largest mobile operator, is looking at possible acquisition and investment opportunities in Asia and Africa as profit growth slows at home, the Wall Street Journal reports, citing the company's Chairman and Chief Executive Wang Jianzhou. Meanwhile, Wang stressed that any expansion through acquisitions would be balanced with continued investments in its home market because there is still huge growth potential in mainland China. "Rising competition has already hurt our profitability. The company wants to look for additional growth and opportunities overseas," said Wang.

Significance: The comments come at a time when China Mobile appears to be taking a more aggressive approach on acquisitions. The company has this March agreed to purchase a 20% stake in Shanghai Pudong Development Bank for US$5.83 billion as it seeks to expand into the mobile money market; its plans to purchase a 12% stake in Taiwan's Far EasTone Communications, however, remain on hold, as it is still uncertain whether the Taiwanese government will give the go-ahead to the deal. Previously, the speed of China Mobile's overseas expansion had been slow. So far, the world's largest mobile operator by subscribers has invested only in Hong Kong and Pakistan.
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