The world’s largest phone company in terms of subscribers, China Mobile Ltd. dismissed its vice chairman for "alleged serious financial irregularities." <br /><br />Zhang Chunjiang is suspected of covering up losses when we worked for another company in 2008, China Netcom Ltd. <br /><br />According to China's most prominent business magazine Caijing, he was trying to obtain a merger with rival China Unicom Ltd. at the time.<br /><br />The magazine says Netcom reported losses of 11.1 billion yuan in 2008, but auditors discovered the losses were closer to 20 billion yuan.
