CNPC proposes 0.3% stake transfer to China Mobile in strategic cooperation move

PetroChina announced that its parent company China National Petroleum Corporation (CNPC) plans to transfer 541 million shares of PetroChina's A-shares, representing 0.3% of total equity, to China Mobile Group through a state-owned shares rearrangement. The proposed transfer, outlined in a newly signed agreement between the two state-owned enterprises, aims to deepen strategic cooperation and optimize shareholding structures.

The arrangement remains subject to approval from the State-owned Assets Supervision and Administration Commission (SASAC) and completion of share registration procedures. If approved, CNPC's ownership in PetroChina would decrease from 82.46% to 82.17%. 

Both companies emphasized the proposal's potential for achieving complementary advantages and mutual development through expanded collaboration areas.