Recent volume surge tells you there perhaps some horse(s) stalking.
Wait for the earnings in a few weeks and I suspect you will see a lot of donkeys gawking.
This Unicom advertising blitz was unprecedented. Within a matter of a week or two, individual ringing tones became the second most profitable value added product to sms messages. Now, China had 280 billion messages last year, so give this new advertising some time to catch up.
What other advertising venue can do this? This is huge!
Regarding any merger possibilities, Western companies are restricted by law to enter the China markets by finding a partner. IBM is trying to enter but is having trouble recently from the regulators in the States. Others are certainly to follow.
Regardless, advertising is a given as China grows and pact IS the joint.