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IBasis, an Internet telephony company, has won a contract from China Mobile

IBasis, an Internet telephony company, has won a contract from China Mobile Telecom that allows China Mobile to route international voice and fax traffic from its customers over the iBasis Network. In addition, iBasis will be able to terminate its international traffic onto China Mobile's network. Shares in iBasis rose $7.50, or almost 30 percent, to $32.88 and traded as high as $34.44.

IBasis, an Internet telephony company, has won a contract from China Mobile Telecom that allows China Mobile to route international voice and fax traffic from its customers over the iBasis Network. In addition, iBasis will be able to terminate its international traffic onto China Mobile's network. Shares in iBasis rose $7.50, or almost 30 percent, to $32.88 and traded as high as $34.44.