Study Of Cross-border M & A Strategy Of Telecom Companies

Under the background of the economy globalization, development of the world telecommunication industry was gradually globalized along with the process of information technology evolution got faster. Chinese telecommunication market had been a very important part of the world telecommunication markets, meanwhile, along with the power of Chinese telecommunication corporations grew stronger, the Chinese telecommunication corporations needed growing up to be world class corporations by overseas expansion.There were many specialities of scale economy and capital intense in the telecommunication corporations, M&A was an important and effective way to achieve the goal of corporation expansion. Since 1990's, the combination of telecommunication corporations had played an important role in the 5^th global M&A movement, and most of the international telecommunication corporations had chosen the way of overseas combination to imply the globalization development strategy. In the process of world telecommunication development, how Chinese telecommunication corporations can achieve the goal of international development in the way of overseas combination was the main objective of the paper.In the paper, the cases of overseas combination was discussed and analyzed in the aspect of theory, including theory of western corporation combination and international direct investing, based on which the related theories of overseas combination were introduced. After that in Chapter 3, the importance of Chinese telecommunication corporations performing overseas combination was described under the background of economy globalization and domestic economy development. In Chapter 4, there were cases of overseas combinations and globalization conducted by typical international telecommunication corporations; inspirations for Chinese telecommunications were summarized. In Chapter 5, strategy choices and advices for overseas combination of Chinese telecommunication corporations in different aspects were concluded and wish this could be useful in some extent for the practice of overseas combination of Chinese telecommunication corporations.