China Mobile is eyeing new merger and acquisition opportunities in Asia but not Europe, according to a Dow Jones Newswires report citing comments from Chief Executive Wang Jianzhou. Last year the company made its first and only overseas acquisition to date, buying 100% of Pakistan operator Paktel Ltd for US$460 million (later renamed CMPak Ltd.). According to the report, Wang said China Mobile will invest US$800 million in its Pakistan unit this year, the same level as last year. He added that China Mobile spent US$400 million to clear up CMPak’s books and a further US$400 million on its business operations last year.

Last month Mobile Business Briefing reported that China Mobile has opened an EMEA headquarters in London. The operation is to focus on three areas: emerging markets; overseas Chinese customers wanting to keep in touch with home; and the ‘short-term visiting market’ which includes travelling business customers and the growing number of Chinese tourists. At the time of the announcement China Mobile said that emerging markets in Africa and the Middle East are priorities for the operator this year, and it is considering setting up a virtual mobile network in Europe. An MVNO partnership, rather than an outright network acquisition, would tally with Wang’s comments this week.