China Mobile Ltd., the world’s biggest phone carrier, is interested in investing in Africa, where it can boost services in rural areas, Chairman Wang Jianzhou said, reported Friday’s Bloomberg.

The company doesn’t have any acquisition targets in Africa yet and hasn’t identified a specific region on the continent where it would like to invest, said Wang.

China Mobile is searching for investments and acquisitions to revive profit growth and expand its overseas operations. Parent company China Mobile Communications Corp. bought Pakistan’s Paktel Ltd., its first overseas acquisition, in 2007.

The Beijing-based company this year agreed to buy a 20 percent stake in Shanghai Pudong Development Bank Co., a move that Wang said will help boost its wireless payment and finance operations.

China Mobile still sees “huge potential” in its domestic market as it expands operations in China’s rural areas, and increases data and financial services, Wang said.

Source : Konaxis