Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Hong Kong
  4. Hong Kong Stock Exchange
  5. China Mobile Limited
  6. News
  7. Summary
    941   HK0941009539

CHINA MOBILE LIMITED

(941)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Chinese-controlled firm loses court bid to pause Ottawa's divestment order

12/07/2021 | 05:47pm EST

OTTAWA — State-owned China Mobile has lost a court bid for a temporary hold on Ottawa's order that its Canadian affiliate be divested or wound up over national security concerns.

In a ruling made public Tuesday, Federal Court Chief Justice Paul Crampton said the harms to the public interest posed by China Mobile International Canada's continued operation "are significantly greater" than the harms the company has shown it would suffer without a stay of the order.

In January, the federal government informed CMI Canada of a review on security grounds, saying the business could be leveraged by the Chinese state for foreign interference and the compromise of critical infrastructure.

The government issued an order in August directing parent company China Mobile to either wind up or divest the Canadian business within 90 days, though an extension has since been granted.

CMI Canada says the government has no grounds to believe the company would compromise security or engage in espionage on behalf of Beijing, and it wanted a pause on the federal order while the full arguments play out in court next year.

At a hearing last month, CMI Canada said if there was no stay, it would be irreparably harmed, losing customers, regulatory licenses, contracts, revenues and the right to do business in Canada.

Even if the company ultimately succeeds in challenging the federal order during the judicial review process, it would have to start completely from scratch unless the directive were put on hold, said Erica Baron, a lawyer for the firm.

In a written submission to the court, the government said CMI Canada had not filed "any direct evidence on this motion from any officer, executive or employee of any of China Mobile or CMI Canada to establish the nature or extent of the harm their counsel alleges they would suffer by complying with the Order."

China Mobile is a state-owned enterprise of China — "a country that poses a significant threat to Canada and Canadians through its espionage and foreign interference operations," the submission added.

Federal lawyer Sean Gaudet told the hearing that while CMI Canada contended it should be allowed to continue operating, "we argue, no, it’s not in the public’s interest for this to happen, that the order should be implemented. And then let the judicial review take its course and there’ll be a determination."

This report by The Canadian Press was first published Dec. 7, 2021.

© 2021 The Canadian Press. All rights reserved., source Canadian Press DataFile

All news about CHINA MOBILE LIMITED
01/14China's 5G smartphone shipments jump 63.5% in 2021 - CAICT
RE
01/11WIND-UP AND HANG-UP : China Mobile's Motion To Stay An ICA Order Pending Judicial Review D..
AQ
01/11XYTOWER | Analysis Of The Advantages of China's Telecommunication Towers
AQ
01/07Chinese Shares Post Four-Day Losing Streak; SunwayWorld Soars 99% in Shenzhen Debut
MT
01/06China Bans Digital Music Platforms From Signing Exclusive Copyright Deals
MT
01/06China bans most exclusive copyright deals for digital music platforms
RE
01/06Asia Tele-net Buys $7 Million China Mobile Shares
MT
01/05China Mobile to Kick Off Buyback of Hong Kong Shares Next Month
MT
01/05Hong Kong Hang Seng Down 1.6% on Renewed Tech Slump
MT
01/05China Mobile Shares Trade Modestly Higher in New Shanghai Listing
MT
More news
Analyst Recommendations on CHINA MOBILE LIMITED
More recommendations
Financials
Sales 2021 844 B 133 B 133 B
Net income 2021 115 B 18 190 M 18 190 M
Net cash 2021 400 B 63 018 M 63 018 M
P/E ratio 2021 7,43x
Yield 2021 7,17%
Capitalization 884 B 139 B 139 B
EV / Sales 2021 0,57x
EV / Sales 2022 0,50x
Nbr of Employees 446 898
Free-Float -
Chart CHINA MOBILE LIMITED
Duration : Period :
China Mobile Limited Technical Analysis Chart | 941 | HK0941009539 | MarketScreener
Technical analysis trends CHINA MOBILE LIMITED
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 23
Last Close Price 41,45 CNY
Average target price 59,76 CNY
Spread / Average Target 44,2%
EPS Revisions
Managers and Directors
Xin Dong Chief Executive Officer & Executive Director
Rong Hua Li Chief Financial Officer & Executive Director
Jie Yang Chairman
Mo Chi Cheng Independent Non-Executive Director
Man Yiu Chow Independent Non-Executive Director