Strategic Cooperation
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China Petroleum to Transfer 541 Million Shares to China Mobile at Zero Price
Sinopec announced its controlling shareholder, China National Petroleum Corporation, plans to transfer 0.3% of its A-shares to China Mobile Communications Group at zero cost. This state-owned equity transfer aims to deepen strategic cooperation, optimize equity structure, and achieve complementary advantages between the energy and telecom giants. The deal, part of a broader strategic cooperation agreement signed in January 2024, requires SASAC approval and won’t change Sinopec’s control or materially impact operations.
