Record year in sight for overseas mergers and acquisitions
Updated: 2016-03-05 07:46
By Chris Peterson(China Daily)
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Wang Jianlin (right), chairman of Dalian Wanda Group Co, attends a ceremony to introduce the English version of his book-The Wanda Way-at the British Museum in London. The book has been well-received in China and has been reprinted 15 times. [Photo/China Daily] |
Professor Alan Barrell of the Judge Business School, University of Cambridge, said: "It makes enormous sense for a cash-rich economy such as China to spread its wings and grow internationally by acquisition, and to explore sectors as yet unexploited overall by M&A involving overseas companies and assets, notably technology, and not just real estate."
However, there are pitfalls. Kyriakopoulou said the main challenges facing Chinese enterprises arise after deals have been struck: "These are chiefly to do with the understanding of different regulatory systems and the clash of corporate cultures."
When he addressed the students in Oxford, Wanda chairman Wang spoke about how the language barrier can affect M&A. "English is our greatest challenge. We have a lot of senior employees in Wanda. However, when going global in tourism, sports and entertainment, inadequacy in English is a huge challenge," he said.
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