China Mobile, the mainland's largest mobile operator, reported its lowest growth in subscribers last month as rival China Telecom Corp narrowed losses. China Mobile said it added 6.87 million subscribers, 5 per cent fewer than in October. It has gained 80 million users this year to 450 million. 'It's just a mild percentage drop, given that factories in coastal regions such as Guangdong province and the Pearl River Delta have stopped hiring since October,' said a fund manager. Shares of China Mobile dropped 5.52 per cent to HK$77 yesterday, its biggest fall in four weeks. China Telecom's shares dropped 3.65 per cent to HK$2.90. The company said subscribers of its newly acquired mobile-telephone business dropped 430,000 last month to 27.9 million, compared with a 680,000 loss in October. China Telecom paid 110 billion yuan (HK$124.67 billion) to take over China Unicom's code division multiple access (CDMA) operations in October. Analysts are bearish on China Telecom's outlook for next year because of the decline in mobile subscribers. 'We forecast a net loss for the CDMA operation of 8 billion yuan, compared with the market-consensus figure of a billion yuan [loss], owing to the need for handset subsidies and a 2 billion yuan amortisation cost for customer value arising from the acquisition of the CDMA business,' said Marvin Lo at Daiwa Securities.