Vodafone has lost its position as the world's largest mobile phone company.
The title goes to China Mobile, whose shares for the week on 51.50 Hong Kong dollars value it at £69.6 billion.
The company, set up less than seven years ago, has more than 200 million subscribers, while Vodafone trails with 186 million customers worldwide.
The UK company is reeling from a bitter boardroom dispute that resulted in a management clear-out by chief executive Arun Sarin.
READ MORE
China Mobile has almost a 40 per cent share of the huge Chinese market and is thought to be looking to expand overseas.