CM Internet, a subsidiary of the Group specializing in Internet business operations, held its opening ceremony in Guangzhou, marking the commencement of China Mobile's specialized operation in Internet businesses.
The Company, through its wholly-owned subsidiary, CM TieTong, entered into an acquisition agreement with TieTong (a wholly-owned subsidiary of China Mobile Communications Group Co., Ltd.) to acquire TieTong's assets and businesses at a final consideration of RMB31.967 billion. This acquisition enables the Company to obtain a wireline broadband license and resources.
The Company entered into a transaction agreement with China Tower on 14 October 2015. Completion of the transaction took place on 31 October whereby the Company completed its transfer of existing telecommunications towers and related assets to China Tower. After China Tower's issue of new shares to the Company pursuant to the transaction agreement, the Company, through its subsidiary, holds a 38.0% shareholding interest in China Tower.
Following the resignation of Mr. Xi Guohua from the positions of Executive Director and Chairman of the Company with effect from 24 August 2015, as proposed by the Nomination Committee of the Company, and after review and approval by the Board, Mr. Shang Bing was appointed as an Executive Director and the Chairman of the Company.
As a response to society's rising expectations and the government's advocacy of "speed upgrade & tariff reduction", the Group announced 12 new measures including 8 for tariff reduction and 4 for speed upgrade. With the implementation of these measures, in 2015, handset data tariff decreased by 43% compared to the previous year, while network capabilities and network speed increased significantly.
MIGU, China Mobile's first subsidiary specializing in mobile internet operations, held its opening ceremony in Beijing, marking the commencement of China Mobile's specialized operation in digital content services.
China Mobile together with China Telecom and China Unicom jointly established China Communications Facilities Services Corporation Limited (subsequently renamed as China Tower Corporation Limited). The Company through its wholly-owned subsidiary subscribed for shares in this company for a consideration of RMB4 billion, representing 40% of its registered share capital.
The Company agreed to, through its wholly-owned subsidiary, subscribe for shares in True Corporation Public Company Limited ("True Corporation") in Thailand through a private placement for a total consideration of approximately RMB5.5 billion. Upon completion of the transaction, the Company indirectly holds 18% equity interest in True Corporation.
The Company launched the new commercial brand "and!" which represents China Mobile's belief in continuously seeking value innovation, promoting industry developments and accomplishing the strategic vision of "Mobile Changes Life". This also represents that China Mobile is always by the side of its customers, helps them to achieve their dreams and accomplish excellence.
China Mobile Communications Group Co., Ltd. (our parent) was granted a 4G (TD-LTE) license. The Group has thus taken the lead in launching its 4G commercial services in 16 cities in China, which has been positively received by its customers.
The Company's wholly-owned subsidiary, CMC, entered into a share subscription agreement with ANHUI USTC IFLYTEK Co. Ltd ("Anhui USTC") to acquire 70,273,935 ordinary shares of Anhui USTC, representing 15% of its enlarged issued share capital, in an effort to speed up our mobile Internet deployment.