China Mobile execs to be named SPDB directors
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Two executives from China Mobile have been named director candidates by the Shanghai Pudong Development Bank (SPDB), the bank said in a statement Sunday, the Shanghai Securities News reported.
The two executives, Sha Yuejia, vice president, and Zhu Min, general manager of the finance department, were nominated by the board of directors at SPDB.
China Mobile signed a deal in March to buy a 20 percent stake in SPDB for 39.8 billion yuan to develop mobile banking and other services. The deal has been approved by regulators.
The deal makes China Mobile, China's largest mobile operator, the second-largest shareholder of SPDB.
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