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China Mobile to Replace Chairman in Overhaul, Caijing Says

May 31 (Bloomberg) -- China Mobile Ltd., the world’s largest mobile-phone operator by users, will replace Chairman Wang Jianzhou with the nation’s vice minister of technology as part of an industry leadership overhaul, Caijing reported.

Xi Guohua, vice minister of the Ministry of Industry and Information Technology, will replace Wang, the magazine said, citing unidentified people. China Unicom (Hong Kong) Ltd. Chairman Chang Xiaobing will be replaced by President Lu Yimin and become chairman of China Telecom Corp., according to the report. China Telecom Chairman Wang Xiaochu will become governor of the southern Yunnan province, it said.

Reports of management changes at China Unicom were “not correct,” said Sophia Tso, a spokeswoman for the company, without elaborating. Jacky Yung, a spokesman for China Telecom, called the report about his company “unfounded.” Wang Lijian, a ministry spokesman, declined to confirm or deny the report. Spokespeople at China Mobile didn’t return calls seeking comment.

China Mobile’s Wang, 62, relinquished the title of chief executive officer to Li Yue in August as the company sought to improve corporate governance by dividing the role of chairman and chief executive. Wang joined China Mobile from China Unicom as part of an industry reorganization in 2004.

To contact Bloomberg News staff for this story: Edmond Lococo in Beijing at elococo@bloomberg.net

To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net

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