We've said before that Millicom International, which owns 16 mobile operations in emerging countries, has become the hottest acquisition target since most of the world's growth is expected to be fueled by emerging markets. China Mobile is now the leading bidder for Millicom and is prepared to pay $6 billion for the company.

For more about China Mobile's leading bid for Millicom:
- read this report from The Wall Street Journal (sub. req.)