The goal here is not to analyze the impact of the pending telecom reform in the Chinese market, but to highlight the impact in the global marketplace. The result of the announced telecom reform will be to create three new integrated telecom giants with a lot of experience in fixed, internet and mobile operations, with power and strong resources (assets, customer base, strong execution in low income environment, ....). Of course, they will primarily focus on the Chinese market. But do you think that the three, immediately ranked among the worldwide giants, can remain inside their borders?. We are now in a global market and competition is worldwide. They will surely want to measure themselves with the likes in Europe or USA, and flex their muscles globally. Telecom markets in the developing world will be appealing. With their experience and future power, future Chinese telecom operators could deal with any telecom assets available around the world. The game is (will be) different. Emerging telecom markets will not be anymore the backyard for only big western telcos. China Mobile has already announced its intent to takeover telecom assets in Africa and Middle East. You may think it is a good or bad evolution, but it is reality.