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CHL - China Mobile Looks To Compete With Tencent's WeChat

|Includes:China Mobile Limited (CHL), CHLKF, CMGE, TCEHY, TCTZF

Prepared by ChinaScope Financial | Source:Beijing Business Today

As Tencent Holdings Ltd.'s (00700: HKG) over-the-top (OTT) application WeChat gradually gains popularity and imposes negative impacts on conventional telecom carriers' SMS business, China Mobile (00941: HKG; CHL: NYSE) plans to revitalize its instant messaging software Fetion. Yesterday, China Mobile's Guangdong arm announced to launch an open tender for the development of Fetion, signifying the telecom giant's determination to win back its lost territory in China's instant messaging market.

According to the announcement, the open tender looks to find developers for basic services, wireless products, 'Fetion Classmates', and public services. The one-year contract is worth CNY 640 million.

Stocks: CHL, CHLKF, CMGE, TCEHY, TCTZF