27th Jun 2007 07:00
EBT Mobile China PLC27 June 2007 For immediate release 27 June 2007 EBT Mobile China plc ("EBT Mobile" or the "Company") Cooperation with Tesco in China EBT Mobile, a leading China-based retail chain selling mobile phones and relatedproducts and services, is pleased to announce that its Chinese subsidiary, EBTInternational Trading (Shanghai) Co. Ltd. expects, subject to completion offinal contractual arrangements, to open 7 mobile phone stores in the next fewweeks within hypermarkets operated by Tesco Hymall, Tesco plc's vehicle forexpansion into China. The first EBT Mobile store within Tesco Hymall has openedtoday in Shanghai. As part of Tesco plc's international expansion strategy, it has acquired 90% ofthe equity of Hymall from Ting Hsin, one of China's leading consumer food andbeverage producers. The 48 existing Hymall hypermarkets in China are mainlylocated in the east, north and northeast regions. Tesco plc has forecast thatthis number will increase to 56 by February 2008, as part of its Asian expansionpolicy. The agreement with Tesco Hymall is an important step and the latest move in EBTMobile's strategy to enhance its expansion by rolling out stores within leadingChinese hypermarket chains. EBT Mobile already has similar agreements in placewith Carrefour, Metro, Lotus, RT-Mart, Wu-Mart, Auchan and Trust-Mart (35% ownedby Wal-Mart). Zhang Ge, CEO of EBT Mobile, said: "EBT Mobile is delighted to be selected by Tesco Hymall as its mobile partner.Tesco has an outstanding international reputation and I believe China willbecome an important market for the UK retailer following its success in otherAsian markets. Working with Tesco Hymall is another major step in our strategyto develop key relationships with world class hypermarket groups operating inChina. EBT Mobile can leverage its competitive advantage of products, managementand capital to establish an even bigger platform, starting in our home base ofShanghai. EBT Mobile will provide Tesco Hymall's customers with a wide choice ofmobile telephone products and services, while benefiting from a cost effectiveroll out of stores within the Tesco Hymall stores." For more information contact: Terry Garrett / Stephanie Badjonat / John MoriartyWeber Shandwick Financial 020 7067 0700 Aubrey Powell / Giles StewartPanmure Gordon (Broking) Limited 020 7459 3600 About EBT Mobile China plc EBT Mobile China plc is a leading Chinese mobile phone and wireless servicesretail chain selling mobile phones, airtime, and other wireless products andservices. Headquartered in Shanghai, EBT Mobile had 239 stores in 26 cities,including Shanghai, Suzhou, Nanjing, Hangzhou, Ningbo and Wuhan as at 31 May2007. Its mission is to become the leading "end to end" multi-platformretailer of wireless products and services in China, the world's largest marketfor mobile phones and wireless applications and content. Working with leadingindustry partners such as China Mobile, Nokia, Motorola, Carrefour, TescoHymall, Metro, Auchan and Lotus, EBT Mobile focuses on superior productofferings, convenience and service, as well as objective advice and outstandingcustomer support. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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