Under the terms of the deal, both parties are expected to jointly carry out activities in several areas, including on-site payments and remote payment services, as well as share customer service resources, according to Reuters.
The same source has revealed that in March 2010 China Mobile claimed to pay USD 5.8 billion for its SPD Bank stake, in a bid to extend mobile e-commerce sector in China. In August 2010, the company said it would hold its 20 percent stake in SPD Bank for five years, two years longer than previously announced.
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