Chinese companies active in overseas acquisitions?

This has been send to me a while ago by a dedicated reader, but I haven't included it in the write up until now.

After Lenova's acquisition of IBM's PC division, Siemens sale of its mobile division to Ningbo Bird (still denied), well, this move by CNOOC Ltd to acquire Unical would be another step forward.

However, Unical also is an attractive target for other Western petroleum companies as well, since they were pretty successful in penetrating the Asian market earlier. This target becomes more attractive considering the fact that global energy demand soaring and supplies ever harder to find. Unocal offers immediate access to oil and natural gas reserves, especially in Asia, Alaska and the Gulf of Mexico, but CNOOC is not the only hunter - Royal Dutch/Shell Group is also interested.

(By Asia Business Consulting)