China Mobile has bought a 20% stake in Shanghai Pudong Development (SPD) Bank, for 39.8 billion yuan (€4.4 billion). Now the world’s biggest mobile operator in terms of number of subscribers (500 million), which has by far the greatest coverage in rural areas, has acquired a platform from which it can extend its m-banking offer. [...]
The post China Mobile buys bank share appeared first on Payments Cards & Mobile.