Emerging markets overtake Europe in 2010. In 2010, for the very first time, there were more mergers and acquisitions in emerging markets than in European countries. According to the most recent figures published by Dealogic, the number of mergers and acquisitions in 2010 at a global level rose to 32% as opposed to just 11% in 2000. Four of the biggest operations last year involved an actor from emerging countries and the biggest deal carried out involved the increase of capital in the giant Brazilian energy group, Petrobras. The share of emerging countries now represents a total sum of $913 billion, as opposed to $367 billion 10 years ago and $561 billion in 2009. In comparison, deals clinched in Europe were worth a total of $811 billion. Western markets have stagnated and consolidation is partly due to not very optimistic growth prospects and companies now shifting towards fast-growing economies. The BRIC countries (Brazil, Russia, India and China) are being targeted most and account for half of all volume. Access to these new markets, however, remains difficult for western companies. These companies themselves are seeking to grow and are finding it difficult to penetrate these new markets because companies in emerging markets obviously do not necessarily want to be brought up. Their growth forecasts are very high and they want to develop on their own markets, explains one expert from Morgan Stanley. There are also regulatory restrictions, high prices and no guarantees for controlling the operation or it succeeding. (I.L./transl.fl)