Don't buy a bank in Hong Kong

Salomon Smith Barney''s M&A head, Steve Schiller has some thoughtful things to say about where M&A is going.

We've had a couple of big China MA deals recently. Do you see that as one of the defining trends this year

Chinese MA is not going to see a geometric growth. It will be a linear growth over a period of time. We are going to see occasional very large asset injections - for example, the China Mobile trades - but in terms of real, arms length MA, that's going to be slow and steady. We will see nice growth, and especially in areas that are more international like oil gas, and where they have dollars. But we don't think MA is going to explode overnight.

It will happen in...

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