China Mobile to acquire Millicom

China Mobile, the worlds largest mobile operator by number of subscribers, is near a $5.3 billion agreement to acquire Millicom International Cellular SA of Luxembourg, operator of mobile-telephone services in many of the world's poorest nations, in what would be the biggest-ever overseas acquisition by any Chinese company.

First it was Lenovo buying IBM's PC business, now it's China Mobiles turn. This is the beginning of a trend towards Chinese (and other Asian) technology and communications companies gearing up for international success.

And on China Mobiles coat tails will follow their mainly Chinese suppliers, such as telecom-equipment maker Huawei Technologies of Shenzhen, in addition to handset makers, engineers and others.

This is a strong and sensible move by China Mobile. Look out Vodafone, Orange, Telefonica, T-Mobile, Cingular etc!