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00941 CHINA MOBILE
RTNominal up71.050 +0.250 (+0.353%)
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06/01/2020 15:59

{I-bank focus}DBS downgrades China Mobile (00941) to HK$64

[ET Net News Agency, 6 January 2020] DBS Group Research lowered its target price for
China Mobile (CM)(00941) to HK$64 from HK$75 and downgraded its rating to "hold" from
"buy" for potential market share loss in the 5G era despite its attractive valuation.
The research house said China Telecom (00728) and China Unicom (00762) will co-build and
co-share one 5G network to match the coverage and quality of CM's 5G network. This will
reduce the network advantage of CM as in the past.
DBS reckoned that with the nation-wide implementation of mobile number portability
policy, the mobile sub churn rate will be higher during the upgrade to 5G services. This
may lead to market share loss for CM. (KL)

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