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中國(guó)移動(dòng)海外擴(kuò)張 或通過(guò)收購(gòu)進(jìn)軍美國(guó)市場(chǎng)

中國(guó)移動(dòng)海外擴(kuò)張 或通過(guò)收購(gòu)進(jìn)軍美國(guó)市場(chǎng)

Erik Heinrich 2014年05月30日
北美和歐洲將是中國(guó)移動(dòng)海外擴(kuò)張戰(zhàn)略的關(guān)鍵。它可以通過(guò)三個(gè)途徑進(jìn)入美國(guó)市場(chǎng):收購(gòu)美國(guó)現(xiàn)有的運(yùn)營(yíng)商,,參與美國(guó)未來(lái)的頻譜競(jìng)拍,,或者作為虛擬網(wǎng)絡(luò)運(yùn)營(yíng)商進(jìn)入。

????人們很難忽視中國(guó)移動(dòng)(China Mobile),。按照用戶(hù)人數(shù)計(jì)算(最近統(tǒng)計(jì)的數(shù)據(jù)為7.6億人),,它是全世界最大的無(wú)線(xiàn)運(yùn)營(yíng)商。由于它在中國(guó)本土如此成功,以至于中國(guó)政府為了削弱它的支配地位,,甚至允許另外兩家國(guó)家控股運(yùn)營(yíng)商——中國(guó)聯(lián)通(China Unicom)和中國(guó)電信(China Telecom),,成立合營(yíng)公司,建設(shè)和管理中國(guó)的電信基礎(chǔ)設(shè)施,。

????因此,,中國(guó)移動(dòng)近期表示希望進(jìn)軍海外市場(chǎng)的舉動(dòng)也就不難理解了。尤其是中國(guó)移動(dòng)董事長(zhǎng)奚國(guó)華,,從不掩飾公司準(zhǔn)備在北美與歐洲市場(chǎng)尋找發(fā)展機(jī)會(huì)的事實(shí),。這家公司推出中國(guó)首個(gè)4G網(wǎng)絡(luò)之后就宣布了這個(gè)消息。中國(guó)移動(dòng)希望利用4G網(wǎng)絡(luò)打開(kāi)海外市場(chǎng),,為公司開(kāi)拓全球業(yè)務(wù),,提高盈利能力。

????中國(guó)移動(dòng)能否對(duì)威瑞森(Verizon)和美國(guó)電話(huà)電報(bào)公司(AT&T)等構(gòu)成嚴(yán)重威脅,?分析師們認(rèn)為,,進(jìn)入競(jìng)爭(zhēng)激烈的美國(guó)市場(chǎng)面臨著許多障礙。

????倫敦市場(chǎng)研究公司HIS Technology分析師朱利安?沃森認(rèn)為:“由于中國(guó)移動(dòng)沒(méi)有頻譜和移動(dòng)牌照,,因此,,它可能需要收購(gòu)現(xiàn)有的運(yùn)營(yíng)商,在未來(lái)的拍賣(mài)中購(gòu)買(mǎi)頻譜,,或作為MVNO進(jìn)入市場(chǎng),。”MVNO或移動(dòng)虛擬網(wǎng)絡(luò)運(yùn)營(yíng)商,,通常按批發(fā)價(jià)從現(xiàn)有運(yùn)營(yíng)商購(gòu)買(mǎi)網(wǎng)絡(luò)服務(wù)使用權(quán),,之后將其轉(zhuǎn)售給自己的零售用戶(hù)。

????到目前為止,,中國(guó)移動(dòng)的海外市場(chǎng)只有巴基斯坦,。2007年,中國(guó)移動(dòng)以3億美元收購(gòu)了巴科泰爾有限公司(Paktel),。要在美國(guó)進(jìn)行大規(guī)模收購(gòu)并不容易,,但也并不是完全沒(méi)有可能。

????日本的軟銀集團(tuán)(SoftBank)2012年收購(gòu)了美國(guó)第3大無(wú)線(xiàn)運(yùn)營(yíng)商斯普林特(Sprint),,還計(jì)劃在下個(gè)月出價(jià)收購(gòu)美國(guó)第四大運(yùn)營(yíng)商T-Mobile,。如果軟銀要想與威瑞森和AT&T正面交鋒,必須合并這兩家無(wú)線(xiàn)運(yùn)營(yíng)商,,盡管美國(guó)監(jiān)管部門(mén)擔(dān)心合并將減少競(jìng)爭(zhēng),,進(jìn)而對(duì)美國(guó)消費(fèi)者造成不利影響。

????如果在年底之前,,監(jiān)管部門(mén)反對(duì)這筆交易,,正如它曾在2011年反對(duì)AT&T以290億美元收購(gòu)T-Mobile一樣,,中國(guó)移動(dòng)將迎來(lái)機(jī)會(huì),有望與T-Mobile的母公司德國(guó)電信進(jìn)行談判,。

????要進(jìn)入美國(guó)市場(chǎng),還有其他途徑,。中國(guó)移動(dòng)的第二種選擇是購(gòu)買(mǎi)頻譜,。美國(guó)聯(lián)邦通信委員會(huì)(U.S. Federal Communications Commission)啟動(dòng)了六年來(lái)第一次大規(guī)模無(wú)線(xiàn)頻譜拍賣(mài)。其中,,目前用于傳輸電視信號(hào)的在600 MHz頻率范圍內(nèi)最有價(jià)值的低頻頻譜將于2015開(kāi)始拍賣(mài),。

????中國(guó)移動(dòng)不需要親自參與頻譜的競(jìng)購(gòu)。它可以與一家美國(guó)無(wú)線(xiàn)運(yùn)營(yíng)商合作,,競(jìng)購(gòu)新推出的頻譜,。這種做法除了可以分擔(dān)成本外,還可以幫助中國(guó)移動(dòng)獲得兼容性?xún)?yōu)勢(shì):中國(guó)使用的4G標(biāo)準(zhǔn)TD-LTE(時(shí)分長(zhǎng)期演進(jìn))可以補(bǔ)充美國(guó)使用的標(biāo)準(zhǔn)FD-LTE(頻分長(zhǎng)期演進(jìn)),。

????It's difficult to ignore China Mobile (CHL). The world's largest wireless carrier as measured by subscribers -- 760 million at last count -- the company is so successful in its home country that the Chinese government wants to reduce the its domestic dominance by allowing two other state-controlled carriers, China Unicom and China Telecom, to establish a joint venture to build and manage telecommunications infrastructure in the country.

????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.

????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.

????"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.

????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.

????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.

????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.

????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.

????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).

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