China Mobile is said to be looking at investing in five new markets, suggesting that the world’s largest mobile operator is prepping a rare foray overseas.

According to a report in China’s English-language Morning Whistle newspaper yesterday, China Mobile is planning “analysis of the macroeconomic investment environment in five countries,” notably Germany, South Africa, Brazil, Portugal, and North Korea.

The operator is said to have invited bids from several consulting firms to conduct the studies.

China Mobile’s only venture outside of its home market to date has been in Pakistan. In 2007, the company paid $560 million for the country’s fifth-largest mobile network Paktel. But the subsidiary – now known as CMPak – has not gained much market share and remains a minor player in a crowded market.

Explaining China Mobile’s lack of international expansion since, Wang Jianzhou, China Mobile’s chairman, said last year that the company had been held back by high prices.

“We saw opportunities [overseas], but the prices are far too high,” he said. “That’s why China Mobile has made little progress in overseas expansion in recent years.”