Deals
China Mobile to Acquire 15% of Voice-Recognition Company
This article is for subscribers only.
China Mobile Ltd., the world’s biggest phone company by users, agreed to buy a 1.36 billion yuan ($214 million) stake in Anhui USTC iFlytek Co., a maker of voice-recognition software similar to Apple Inc.’s Siri system.
The phone carrier will subscribe to 70.3 million Anhui USTC shares, or a 15 percent stake, at 19.40 yuan apiece, Beijing-based China Mobile said in a filing to the Hong Kong stock exchange yesterday. Anhui USTC rose by the 10 percent daily limit to 26.61 yuan at the close in Shenzhen after trading in the stock resumed.