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In March 2006, NWPCS merged with Hong Kong CSL Limited to form CSL New World Mobility, a new intermediate holding company that was owned by Telstra (76.4%) and New World Mobile Holdings (23.6%) at that time. In October 2006, New World Mobile Holdings sold its 23.6% stakes of CSL New World Mobility to New World Mobile Holdings' parent company New World Development. In November 2006, New World Development then sold 58.04% shares of New World Mobile Holdings to Moral Glory International, a private company that was owned by at that time. In February 2007, Moral Glory International launched a mandatory public offer to acquire the remaining share of New World Mobile Holdings. In May 2007, Mongolia Energy Corporation (the successor of New World Cyberbase), disinvested 8.32% shares of New World Mobile Holdings to the public market.