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CHU - China Mobile: A State-Owned Enterprise With State-Mandated Mediocre Results
China Unicom (Hong Kong) Ltd
My readers recall I recommended China Mobile (CHL) in the inauguration article of My Little Conglomerate - a portfolio of businesses where each holding is treated as a subsidiary of the whole.
We have held China Mobile ever since the portfolio's inception. It is China's largest - and, therefore, the world's largest - telecommunication company by number of users. Per their H1 2019 interim results presentation, they now have 935M mobile customers - that's almost 3 times the population of the United States.
It has the lion's share of China's mobile and broadband market,