中国移动日前宣布，将以398亿元人民币收购上海浦东发展银行增发的逾22亿股新股。交易完成后，中国移动将通过子公司广东移动持有浦发银行20％股权。

在此次交易中海问律师事务所担任中国移动的法律顾问，而浦东发展银行的常年法律顾问上海联合律师事务所再次为客户在此项目中出具法律意见。

根据双方签署的战略合作备忘录，浦发银行和中国移动将在移动金融和移动电子商务上展开紧密合作，包括移动支付业务、移动银行卡业务、移动转账业务等。同时，双方还将共同推动在基础银行业务和基础电信业务领域的合作，充分发挥各自的资源优势并发挥协同效应。

China Mobile - SPD Bank stake acquisition		US$5.83bn
China Mobile acquires a 20% stake in Shanghai Pudong Development Bank. The two companies will form a strategic alliance to offer wireless financial services including mobile bank cards and payment services.
Firm	Client	Role
Shanghai United Law Firm Lead partner: Wang Feng	SPD Bank	PRC counsel
Haiwen & Partners	China Mobile	PRC counsel

China Mobile's latest business endeavour exemplifies the surprising far-reaching diversification ambitions of some large PRC companies. Seeking to expand into mobile financial services, China Mobile has agreed to buy a 20% stake in Shanghai Pudong Development Bank (SPD Bank) for US$5.83bn. The two companies will form a strategic alliance to offer wireless financial services including mobile bank cards and payment services.

SPD Bank was represented by Shanghai United Law Firm and partner Wang Feng lead the deal, which the said will be "a trigger for more of such alliances between telecommunication and financial services." Whether or not potential alliances go forward fully depend on evolving law and regulations, he added.

Shanghai United, which conducted due diligence, drafted and negotiated terms of the contract for the deal, is SPD Bank's long-term legal advisor. The firm first advised the bank in 1999 on its IPO and continued providing legal services around its equity and debt market deals and financing transactions.

China Mobile, the world's largest mobile carrier by number of subscribers, joins other telecommunications operators in Japan and South Korea that have agreements with banks to offer payment services via cellphones as a way to generate additional revenue.