中國移動海外擴張 或通過收購進軍美國市場
It's understandable, then, that China Mobile has recently expressed interest in flexing its substantial muscle in overseas markets. Chairman Xi Guohua in particular has made no secret of the fact that the state-owned enterprise is ready to explore growth opportunities in North America and Europe. The news comes on the heels of the launch of China's first 4G network, which China Mobile hopes to leverage overseas to build a global footprint and boost profitability.
因此，中國移動近期表示希望進軍海外市場的舉動也就不難理解了。尤其是中國移動董事長奚國華，從不掩飾公司準備在北美與歐洲市場尋找發展機會的事實。這家公司推出中國首個4G網絡之後就宣佈了這個消息。中國移動希望利用4G網絡打開海外市場，爲公司開拓全球業務，提高盈利能力。Could China Mobile pose a serious threat to the likes of Verizon (VZN) and AT&T (T)? Analysts say the hurdles are high for entry into the crowded U.S. market.
中國移動能否對威瑞森（Verizon）和美國電話電報公司（AT&T）等構成嚴重威脅？分析師們認爲，進入競爭激烈的美國市場面臨着許多障礙。
"Because it lacks spectrum and mobile licenses, it would need to acquire existing operators, buy spectrum in future auctions, or enter the market as an MVNO," says Julian Watson, an analyst at the research firm IHS Technology in London. A mobile virtual network operator, or MVNO, typically buys access to network services from an existing operator at wholesale rates, then resells to its own retail subscribers.
倫敦市場研究公司HIS Technology分析師朱利安o沃森認爲：“由於中國移動沒有頻譜和移動牌照，因此，它可能需要收購現有的運營商，在未來的拍賣中購買頻譜，或作爲MVNO進入市場。”MVNO或移動虛擬網絡運營商，通常按批發價從現有運營商購買網絡服務使用權，之後將其轉售給自己的零售用戶。To date, China Mobile's only foreign play is in Pakistan. In 2007, it purchased Paktel for about $300 million. Making a significant acquisition in the U.S. would be difficult, but not impossible.
到目前爲止，中國移動的海外市場只有巴基斯坦。2007年，中國移動以3億美元收購了巴科泰爾有限公司（Paktel）。要在美國進行大規模收購併不容易，但也並不是完全沒有可能。Japan's SoftBank, which acquired the No. 3 U.S. wireless carrier Sprint (S) in 2012, is expected to make a bid for the No. 4 U.S. carrier, T-Mobile (TMUS), next month. SoftBank is believed to need to combine the two wireless carriers if it hopes to compete head-to-head with Verizon and AT&T, though U.S. regulators have expressed concern that such a merger would reduce competition and negatively impact American consumers.
日本的軟銀集團（SoftBank）2012年收購了美國第3大無線運營商斯普林特（Sprint），還計劃在下個月出價收購美國第四大運營商T-Mobile。如果軟銀要想與威瑞森和AT&T正面交鋒，必須合併這兩家無線運營商，儘管美國監管部門擔心合併將減少競爭，進而對美國消費者造成不利影響。If regulators sink the deal before the year is out -- just as they did with AT&T's proposed $39 billion acquisition of T-Mobile in 2011 -- it could open the door to China Mobile negotiating an agreement with T-Mobile's parent company, Deutsche Telekom.
如果在年底之前，監管部門反對這筆交易，正如它曾在2011年反對AT&T以290億美元收購T-Mobile一樣，中國移動將迎來機會，有望與T-Mobile的母公司德國電信進行談判。There are other ways to enter the U.S. market. China Mobile's second option is buying spectrum. The U.S. Federal Communications Commission has kicked off its first major auction of wireless airwaves in six years. The most valuable band, low-frequency airwaves in the 600 MHz range currently being used for broadcast TV signals, is scheduled to hit the block in 2015.
要進入美國市場，還有其他途徑。中國移動的第二種選擇是購買頻譜。美國聯邦通信委員會（U.S. Federal Communications Commission）啓動了六年來第一次大規模無線頻譜拍賣。其中，目前用於傳輸電視信號的在600 MHz頻率範圍內最有價值的低頻頻譜將於2015開始拍賣。China Mobile need not go after the spectrum alone, either. The company could partner with a U.S. wireless carrier to bid for the newly available band. In additional to cost sharing, China Mobile would enjoy compatibility: The 4G standard used in China, known as TD-LTE (Time Division-Long Term Evolution), complements the standard used in the U.S., FD-LTE (Frequency Division-Long-Term Evolution).
中國移動不需要親自參與頻譜的競購。它可以與一家美國無線運營商合作，競購新推出的頻譜。這種做法除了可以分擔成本外，還可以幫助中國移動獲得兼容性優勢：中國使用的4G標準TD-LTE（時分長期演進）可以補充美國使用的標準FD-LTE（頻分長期演進）。
