From Reuters, via The Guardian:
Emboldened by recent success and backed by Beijing’s deep pockets, an increasingly sophisticated China Inc is poised to make bigger overseas acquisitions in its quest to secure natural resources, technology and prestige.
State-run Chinalco’s $14 billion swoop on Friday for a chunk of global miner Rio Tinto in China’s largest foreign investment was funded by a state policy bank and underscores the ambition and financial might wielded by Beijing.
It affirms China’s ability not only to identify deals, but to complete them — something mainland firms have not always managed to pull off. Settling for minority stakes shows a recognition of political realities abroad and management limitations at home.
