The Company's parent company China Mobile Communications Corporation announced today that it had entered into an agreement with Millicom International Cellular S.A. to purchase 88.86% of the outstanding shares of Paktel Limited, a mobile communications operator in Pakistan. The transaction implies an enterprise valuation for Paktel Limited of US$460 million. Completion of the transaction is subject to the receipt of certain regulatory approvals. If such approvals are obtained, completion is expected to occur in late February 2007.
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