China Mobile Fee Cuts Carry 1H Cost of $710 Million
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China Mobile Ltd., the world’s largest phone company, said government-ordered cuts in fees rivals pay to connect to its network would have cost it 4.31 billion yuan ($710 million) in the first half of this year.
Effective Jan. 1, the fee China Telecom Corp. and China Unicom Hong Kong Ltd. pay to connect a call to China Mobile’s network will drop to 0.04 yuan per minute from 0.06 yuan, China Mobile said in a statement to the Hong Kong Stock Exchange yesterday. The fee paid for text messages to the larger rival’s network will drop to 0.01 yuan from 0.03 yuan.