The Yike stocks held by Zhou Xin originally came from the financing settlement of Guohao.com. Like Su Wei and Yu Hong, he invested part of the money into the just-started Yike.
However, his shareholding ratio is the smallest.
To this day, after numerous financings and listings, Zhou Xin still holds nearly 0.8% of the shares, worth around US$50 million.
He himself has the salary of the president of a medical group, and he has always been restrained in spending money. However, after marriage, he and his wife Yu Lanyu developed a hobby of fishing. In addition, Yike's stock also reflects the distance between him and Mr. Fang to a certain extent.
, the stocks that have passed the lock-up period have not been moved.
However, since it coincides with the good news about a small family, and Fang Zhuo is indeed raising funds here, as long as the acquisition of bank shares can be successful, he will definitely make a profit without losing money, so he can get involved.
Allianz Group acquired 2.5% of ICBC's shares for US$1 billion, and this amount of money is no longer a problem.
Now there is a new target, American Express, which still needs to raise US$200 million to acquire a 0.5% stake in ICBC.
Not only that, but taking into account the exchange with Paulson and the current wave of shareholding reforms and listings of domestic banks, Fang Zhuo believes that at least one more opportunity can be obtained.
Looking at this wave, almost all are foreign investors, but there are also familiar names.
Fang Zhuo noticed a valuable piece of information when he was inspecting the warehouse. The partner selected by Bank of China was the Royal Bank of Scotland, but in order to raise funds, the latter attracted Merrill Lynch and Li Jiacheng Fund.
This move made the Bank of China quite dissatisfied. An important factor was that the third party that was forced in was not under control.
Any bank must consider the control of its partners at the current stage. This is the case for ICBC and the same for Bank of China.
Fang Zhuo didn't know where Paulson's bottom line for protecting Allianz and American American Express was, and whether or what degree of cooperation could be achieved in the end. However, since ICBC's boss was willing to shoulder the pressure, he hoped that Mi GA would
The fund consortium can have the best harvest on this basis.
Is Goldman Sachs willing to give up on Allianz?
With the strong will of ICBC, maybe it can be done.
Is Goldman Sachs willing to give up American Express?
I don’t know if it is possible to rely solely on ICBC’s strong will, but it may also need to be coupled with the subjective initiative of the GA Fund.
There is no room for the two companies to attack ICBC. So, instead of letting Bank of China cooperate with a privately promoted Royal Bank of Scotland, it is better to try the effect of Goldman Sachs + GA Fund.
Fang Zhuo thought he could give it a try, and there wouldn't be much loss anyway. Governor Jiang happened to be here, and if he introduced the leaders of the Bank of China to pay a secret visit, it wouldn't be in vain to act as a thug.
Judging from the information currently available, ICBC's matter is not that urgent, but Bank of China may need to grab some points.
Mi GA Fund continues to handle affairs calmly, learning from the cooperation between Goldman Sachs and ICBC to draw up a general framework and provide decent competitiveness step by step.
But Fang Zhuo made a small personal request in another phone call with President Jiang.
"Mr. Fang, Paulson's attitude is quite resolute. He is not only looking for me, but also for the leaders above." President Jiang communicated the situation and expressed confidence, "But since the industry has found you, you are so outstanding.
, then we will not give in.”
Fang Zhuo was very moved by Lao Jiang's resistance to pressure. He first expressed his thanks and then asked: "President Jiang, can you help me introduce President Li of Bank of China in the past two days?"
The heads of banks are often familiar with each other, but Lao Jiang and the heads of Bank of China are not familiar with each other. President Li came from ICBC, and the two of them have been colleagues for a long time.
This is also a major reason why Fang Zhuo targets Bank of China. With a leader of Lao Jiang’s status introducing him, he will definitely get twice the result with half the effort.
"Old Li? Why are you looking for him?" Manager Jiang was surprised.
“I was quite indignant when I heard that the Royal Bank of Scotland had a good partner.” Fang Zhuo said, “The amount of funds raised for ICBC this time can almost replace Goldman Sachs, but since President Jiang still prefers Goldman Sachs as a strategic investment
I want to see if there are any suitable opportunities with the overflow funds.”
Manager Jiang's brows furrowed when he heard this, and he was blabbering indignantly or not. He was not sure whether the funds would be overflowed or not, but Mr. Fang's appetite was really not small.
From Allianz to American Express and then to Bank of China.
You haven't settled the matter with ICBC yet, and you're just looking at the other bank. What else will you do next? You really can't even think about it.
He said slowly: "Mr. Fang, I have to remind you that if you continue to build an acquisition consortium with the same structure, it will be difficult to get approval."
It does not mean that a bank can sign a contract after negotiating with an institution. It also needs to be reviewed by the higher authorities. If Goldman Sachs + GA Fund cooperate, it will definitely attract more stringent approval.
"Yeah, that's what President Jiang said." Fang Zhuo also knew this and explained, "If Bank of China really has this intention, I am willing to write the lock-up period into the contract, and this will be the final investment that complies with the regulations.
.”
According to the regulations of the China Securities Regulatory Commission, no more than two Chinese-funded banks of the same type may acquire shares.
For example, Temasek has acquired 4.55% of the shares of Minsheng Bank and 5.1% of China Construction Bank. It also tried to continue to invest in Bank of China, but was clearly rejected.
But there are ways to avoid it. The Royal Bank of Scotland turned to Merrill Lynch and Lijiacheng Fund without even saying hello. If this form can pass the review, then if Deutsche Bank is used as the cover, Goldman Sachs and GA are hiding behind the scenes.
It's not impossible.
President Jiang pondered for a long time, and finally said: "The situation of Bank of China is different from ours. It has signed a contract."
"The funds haven't been delivered yet. What's more, the source of funds for this delivery is different from what was agreed. The Royal Bank of Scotland didn't do a good job on its own, so there is still room for it at the moment." Fang Zhuo said, "That's why I wanted to ask President Jiang for a favor.
.”
Governor Jiang thought about it and realized that a big appetite is not necessarily a bad thing for Bank of China. This lock-up period can also promote the industry.
He was about to agree, but couldn't help but add another sentence: "Mr. Fang, even if the Royal Bank of Scotland's actions are open to question, poaching like this is still prone to trouble."
"I want to make money but also want peace and quiet, how can such a good thing happen? Goldman Sachs and Deutsche Bank are in front of me, and I just want to drink soup from Bank of China." Fang Zhuo smiled and thanked, "Thank you, President Jiang, for reminding me.
Whether it is ICBC or Bank of China, as long as we can cooperate, I will do my best."
Having said this, President Jiang agreed and was just an introduction. It was up to the Bank of China to judge whether cooperation was possible or not.
He didn't waste time and contacted his old friend that afternoon to talk about the matter.
On the other hand, Fang Zhuo also called Paulson. He didn't mention ICBC at all, but just invited him to visit the head of Bank of China.
Paulson was somewhat surprised. What he remembered was a sentence he said during the breakfast chat that day - why should we just focus on the ICBC family?
He immediately agreed and was willing to visit her together.
After temporarily roping in this ICBC competitor, Fang Zhuo informed Zhang Hongli about the Bank of China matter.
Zhang Hongli became excited almost immediately and rushed to Mr. Fang's hotel.
As a result, when he arrived, he was told that Mr. Fang was having a meeting in the conference room.
Meeting? What kind of meeting?
Our Deutsche Bank was not notified!
Zhang Hongli felt uneasy and worried that Fang was always screening out more collaborators. While waiting patiently, he called Hezhong and Washington to find out more.
Then, United States and Washington were kept in the dark about the BOC news.
Zhang Hongli breathed a sigh of relief, but also did not disclose new opportunities.
At five o'clock in the afternoon, the meeting ended.
"Huh? Mr. Zhang, why are you here?" Fang Zhuo took the documents and walked out of the conference room and saw the uninvited guest.
"If I don't talk to Mr. Fang face to face, I won't feel at ease." Zhang Hongli replied solemnly.
Fang Zhuo frowned, and whispered a few words to Jacky Dong, who was in charge of e-commerce logistics, and postponed the communication with him until the next day, before taking Zhang Hongli back to the suite.
"Mr. Fang, you are still in the mood to hold a meeting on Tesco at this time." Zhang Hongli took a look at the contents of the afternoon meeting.
"This is an unexpected surprise for the bank. There is only more than a month left until November." Fang Zhuo said naturally, "If I'm not busy with Tesco, who will be?"
Zhang Hongli said, his feeling is that the cooperation with banks should be given priority now. Compared with this, the profits that Tesco can bring from this promotion will definitely not be as good as ICBC or even Bank of China.
Fang Zhuo glanced at Zhang Hongli and said: "President Jiang and I have already communicated. ICBC will definitely increase the lock-up period for the shares. This will be made clear in future negotiations."
"If there is really a chance for negotiation with Bank of China, this will be reflected in the contract as sincerity."
"If ICBC and Bank of China can implement it, except for China Construction Bank, which will be listed next month, other banks may refer to this standard in their cooperation with foreign capital."
Zhang Hongli asked: "How long?"
"Three years." Fang Zhuo said affirmatively.
Zhang Hongli thought to himself, it's okay.
Fang Zhuo followed these words and continued: "This also means that even if this cooperation with the bank can be achieved, the money is locked here, so you have to work, and Tesco still has to do what you need to do.
.”
Zhang Hongli knew that Mr. Fang heard what he meant, and laughed at himself: "This is the difference between me and Mr. Fang."
"No, our directions are different after all." Fang Zhuo is not conceited. Mr. Zang is focusing on this area as his own job, and his priorities are definitely different.
"Mr. Fang, let me go to visit Mr. Li tonight." Zhang Hongli volunteered, which was also the purpose of this trip.
Fang Zhuo refused lightly and said: "No, Paulson and I will see if we can talk first. Bank of China's cooperation projects are secondary. The most important thing is whether it is willing to take the reputational risk of breach of contract."
.”
Even with Royal Bank of Scotland taking the lead, Bank of China may be criticized if it wants to find a new strategic partner.
However, there is no solution.
This cooperation could not be canceled by the Bank of China, but stopped by the China Securities Regulatory Commission. The reason is still that the third party Merrill Lynch and the Lijiacheng Foundation took advantage of the loopholes.
"What will the cooperation with Bank of China look like?" Zhang Hongli asked again.
He had asked once on the phone before, and now he asked again in person.
Fang Zhuo sighed: "It's not certain whether we can succeed or not. Just look at Paulson and he agreed in just a few words. You can learn from his manner."
"That's the head of Goldman Sachs. I can be the head of Deutsche Bank anytime, so I can do the same." Zhang Hongli said nonchalantly.
When Fang Zhuo heard this, he looked Zhang Hongli up and down and asked: "Can you have such an upward path in Deutsche Bank?"
If this is the case, it is not impossible to bring dirty boss with you at night.
Zhang Hongli replied affirmatively: "No, it's basically over now."
Fang Zhuo gave up the idea.
Well, it is more convenient for two people to take the bus, but it is a bit crowded for three people.
That evening, Fang Zhuo and Paulson quickly visited the house to pay a visit to Bank of China head Mr. Li.
Because of the weight of the middleman and the screening of ICBC, President Li did not ask much about combinations such as Goldman Sachs and MIGA Fund, but his words did not leave much room for maneuver.
"Mr. Fang, Mr. Paulson, although there is indeed something dissatisfying about Royal Bank of Scotland this time, we have signed the contract."
"If you came to see me last month, I would be willing to give it a try."
"To put it bluntly, if you were the partner who signed the contract, how would you feel if our Bank of China did this?"
"Although Merrill Lynch and Li Jiacheng Foundation are added to the list, which are institutions we did not expect, but to be honest, the best response for Bank of China now is to negotiate with them. After all, they are also
Aren’t you not famous?”
President Li’s attitude is quite firm.
This is no small matter. The contract was signed and the cooperation was announced. Suddenly, there was a U-turn. What do others think of Bank of China?
How do you see yourself?
Paulson did not understand Chinese. Considering the secret nature of this visit, Mr. Fang also helped with the translation.
After hearing these words, he said seriously: "President Li, this operation of Royal Bank of Scotland is against convention. Moreover, I don't know the Lijiacheng Foundation. I know the style of Merrill Lynch."
"If Merrill Lynch was really sincere in cooperating with Bank of China, it would not be like this."
"Once it gets the shares of your bank, it will probably sell them again due to financial reasons."
"Our Goldman Sachs and Mr. Fang's funds can be banned from selling for a certain period of time."
Fang Zhuo waited until Paulson finished speaking and then said: "President Li, I don't understand Merrill Lynch, but I know the style of the Li Jiacheng Foundation."
"I believe you also know that if Li Jiacheng came to the mainland to communicate, it would be easy, but now it is like this."
"His foundation came from profit, and it will inevitably end from profit."
"Such speculation will not help Bank of China's business and management at all."
"The fact that Bank of China only signed a contract with Royal Bank of Scotland also means that the Lijiacheng Foundation and Merrill Lynch have no intention of helping Bank of China."
"We are different, ICBC is an example."
Fang Zhuo is very sincere.
President Li asked a question: "As far as I know, you and Goldman Sachs still seem to be in a competitive relationship, and ICBC's choice has not yet been determined."
Fang Zhuo and Paulson looked at each other and said almost simultaneously: "No, we have reached a cooperation."
Manager Li still shook his head, this time facing Mr. Fang: "Mr. Fang, since it is Lao Jiang who is speaking, let me tell you the truth. This matter is basically finalized. The leaders are watching, and I can't decide it alone.
, it’s useless for you to come to me.”
"President Li, I have been discussing this matter with Paulson on the way here." Fang Zhuo was not depressed and responded with a response, "If you are willing, the huge uncertainty of Merrill Lynch may be proven to you by Goldman Sachs.
Look, it will also clear the way for Bank of China."
It is difficult to convince Bank of China with words alone. This is also the benefit of attracting Goldman Sachs. Paulson is sure to kill Merrill Lynch.
This chapter has been completed!