You can never really tell what a company's management team will come up with when thinking about how to fuel the next leg of growth. While I can understand why China Mobile (NYSE: CHL), China's largest mobile phone company, might want to diversify and deploy some of its substantial cash holdings, I was initially a little surprised by the latest idea.
According to a very brief announcement from Xinhua News Agency, China Mobile and Xinhua are going to collaborate to launch a new search engine company in China. So, a company that has enjoyed a sizable market share virtually from the first day of operation is volunteering to challenge Baidu (Nasdaq: BIDU) and Google (Nasdaq: GOOG) on their home turf.
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http://stocks.investopedia.com/stock-analysis/2010/China-Mobiles-Search-For-Growth-CHL-BIDU-GOOG-CHA-CHU-MSFT-AAPL0813.aspx
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