Buying more of what you already have is expensive – and can be frustrating. Ask GlaxoSmithKline, which is lifting its ownership of subsidiaries in key emerging markets. It paid $1bn this year to take its stake in GSK Consumer Healthcare in India from 43 to 75 per cent. Yet a similar move in Nigeria, for a much smaller sum, failed after investors demanded a higher price. It is a tricky manoeuvre to pull off.
購買更多已有的東西是昂貴的——而且還有可能令人失望。問問葛蘭素史克(GlaxoSmithKline)吧，它正增持自己在主要新興市場的子公司的股份。該公司今年支出10億美元，將其在印度消費保健子公司GSK Consumer Healthcare所持股份從43%增加到75%。然而，它在尼日利亞的一次類似行動（金額小很多），卻因投資者要價更高而告失敗。要把握好這種交易不容易。
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