最有钱的时候，最容易犯错——专访波士顿咨询公司合伙人兼董事总经理米嘉

China-invested Banks' M&A Overseas:Dangerous Speedway

随着金融危机从“华尔街”蔓延到“大众街”，“抄底华尔街”正制造新一轮热闹。 波士顿咨询公司启动了一项中资银行跨国并购的深入研究，试图揭示“这一轮”并购的机会与凶险。这一轮并购变得越来越大胆、交易更加频繁、范围更广且规模更大，大多数交易总额至少达到了10亿美元。但是，研究认为：我们不应该“抄底华尔街”，许多海外收购部是投机方面的，而不是基于一项清晰的战略。

Wall Street's financial crisis is so crucial that'taking over Wall Street'has beome a great possibility. BCG conducted a survey about China-invested banks which are aimed to do merger and acquisition overseas,trying to disclose this round's opportunity and risk.M&A during this period is more risky and frequent with bigger size.The amount of most deals has reached to one billion US dollars.However;the survey indicates that we should not'take over the Wall Street'abruptly,for many M&A cases overseas are based on speculation instead of clear strategies. Compared to industrial enterprises' challenge outside,china-invested banks faced up with the similar risks:bias against main business;high cost;hard to gain the real value from the transnational deal;lack of clear strategies.One analysist warned that it was not so wise to block to the Wall Street just because of the low price.