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China Mobile ends first day on Shanghai market almost flat

Moves to boost odds of triumphal domestic debut fall short

China Mobile sold its Shanghai shares at a much lower valuation than rival China Telecom.    © AP

HONG KONG -- Shares of China Mobile ended their first day of trading on the domestic market nearly flat in a disappointing conclusion to what could still be the biggest domestic listing in more than a decade.

After being forced off the New York Stock Exchange in May, the world's biggest telecom operator in terms of subscribers raised 48.7 billion yuan ($7.6 billion) by selling new shares in Shanghai at 57.58 yuan.

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