China Mobile denies plans to acquire stake in South Africa's MTN Corp

China Mobile Ltd has denied media reports saying it plans to acquire a stake in MTN Corp, South Africa's biggest mobile telecom operator.

'The listed company has nothing to do with this, and as far as we know the parent has had no dealings relating to any plan to buy MTN,' said a company spokeswoman.

China's largest mobile phone company is majority-controlled by China Mobile (nyse: CHL - news - people ) Communications Corp.

Shanghai Securities News reported that China Mobile is expected to buy a stake in MTN, citing sources. The report did not give details.

China Mobile is the larger of the two mobile phone carriers on the mainland.

The company last week announced its net profit for the first nine months grew 29.8 percent from the same period a year ago on strong subscriber growth.

Its 9-month net profit stood at 59.88 billion yuan, up from 46.13 billion a year earlier.