telecom - China Mobile's failed take-over

It was the talk of the town, well, the telecom town, when China Mobile was supposedly taking over Luxembourg-based Millicom International Cellular for US$4 billion according to The Standard of Hong Kong. But today the Luxembourg company announced they stopped the take-over talks, just another sign that Chinese companies have a hard time in really becoming multinational.
According to The Standard Millicom has cancelled the talks.

"Since May 2006, the company has been in prolonged discussions and due diligence with one potential purchaser, but has now concluded that this purchaser will not be in a position within an acceptable timeframe to make a binding offer that is suitably attractive, given the current strong performance of the business, or sufficiently certain of closing," said Millicom, which has about 10 million customers throughout Asia, Africa and Latin America.

Another piece of news. The reporter Amy Gu, who broke the initial story on China Mobile, has left The Standard and joined the South China Morning Post. As many before her.