跨国公司并购国有资本问题探析

Of Public Money During M&A of Multinational Comporations

伴随着跨国公司的迅速扩张,跨国并购已成为跨国公司对外直接投资的主要方式。中国加入WTO以及国有企业改革为跨国公司并购国有资本提供了机会。合资企业增资控股式收购、利用股票市场收购和跨国公司与国有企业合资组成“壳”公司,“壳”公司再反收购是跨国公司并购国有资本三大策略。分析并购过程中存在的主要问题,促进跨国公司并购国有资本并实现双赢的局面,政府应加快立法工作,并制定相应法律、法规,防止国有资产流失和垄断的产生。

With multinational companies' quick expansion, multinational M&A has become already the main way of FDI to multinational companies. As China joins the WTO and state-owned enterprises reformation provides an opportunity for multinational companies to buy state-owned capital. The paper first introduces three major strategies which multinational companies buy state-owned capital, then analyzes the main problems that exsit in the process of multinational M&A, finally brings forwards some advice to promot both parties' interests.