China Mobile soars after 3G approval

China Mobile, the world's top wireless carrier, jumped more than three per cent, helping extend gains in the broader market, after China approved the issuance of licenses for next generation (3G) mobile networks. China's state council approved the...

China Mobile, the world's top wireless carrier, jumped more than three per cent, helping extend gains in the broader market, after China approved the issuance of licenses for next generation (3G) mobile networks.

China's state council approved the issuance of long-awaited licenses for 3G mobile networks, opening the door to some €10 billion in spending for equipment.

The council did not say when the licenses would be issued by the Ministry of Industry of Information, but the industry minister has said it would happen early this year.

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