China Mobile Chair: Chinese Firms Getting Gouged in Overseas Acquisitions

(Beijing) – Grossly overcharged in overseas acquisitions, Chinese companies going abroad are highly vulnerable to unfair deals, according to the head of the world's largest wireless carrier.
 
Chinese companies purchasing overseas assets often get overcharged by sellers, China Mobile Chairman Wang Jianzhou said on March 6.

Foreign parties raise prices for their assets to be sold to an "unbearable level" once they know the prospective buyer is a cash-rich Chinese company, Wang said in a group discussion at the country's ongoing annual legislative meeting.