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.
购买更多已有的东西是昂贵的——而且还有可能令人失望。问问葛兰素史克(GlaxoSmithKline)吧，它正增持自己在主要新兴市场的子公司的股份。该公司今年支出10亿美元，将其在印度消费保健子公司GSK Consumer Healthcare所持股份从43%增加到75%。然而，它在尼日利亚的一次类似行动（金额小很多），却因投资者要价更高而告失败。要把握好这种交易不容易。
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