"Brother Cheng, why are you here alone in a daze?"
Wang Yaocheng turned his head when he heard the words and saw Si Wanru coming elegantly in white clothes. His watery eyes seemed to be able to speak. He couldn't help but smile on his face and said, "If you are alone here, you can think about your work."
thing."
"Oh, can you tell me something?"
Reaching out to hold Si Wanru's fair little hand, Wang Yaocheng stared into the distance and said;
"Of course, you are now the executive director of HSBC, with a high position and authority. These matters involve HSBC's expansion and mergers and acquisitions, um... there are also related strategic considerations. I will explain to you in a simple way how much you can accept.
It’s up to you.”
"Okay! It's time to go to class again."
Si Wanru's beautiful brows are like a bitter pill, but she holds shares and executes equity on behalf of her children. She has gained great growth in this international-level financial transaction, and the benefits are self-evident.
As a woman, Yunbo's strange battles of wits and courage in the financial market and the thousands-mile business war are really not suitable for her, and it is not Si Wanru's interest.
But for the sake of her children, Si Wanru can only grit her teeth and continue studying. After all, competition is everywhere!
She leaned against Wang Yaocheng's broad chest and listened to his eloquent words;
Fortis Financial Group is a well-known multinational insurance company in Europe with a history of 180 years. Its main insurance business market is in Europe, and its business scope covers Europe, Asia and North America. It is one of the top insurance giants in Europe.
You can think of it as a smaller version of AIG, which was also caught in the whirlpool of the subprime mortgage crisis and incurred a total of 8.5 billion euros in bad debt losses for two consecutive financial quarters.
This is a huge deficit that has been exposed. As for how much it tried to cover up, others have no way of knowing.
Take a look at the lessons learned from AIG. We have already invested 100 billion US dollars in the early stage, and we need to prepare another 35 to 40 billion US dollars in December to roughly solve the huge troubles faced by American International Group.
Therefore, the potential losses of Fortis Financial Group are definitely more than tens of billions of euros, and may even increase four to five times.
Fortis Financial Group still had a big problem. At the end of 2007, Fortis Financial Group, the Royal Bank of Scotland and the Bank of Spain jointly invested 70 billion euros to acquire ABN Amro, almost spending all its reserve liquidity.
Since the outbreak of the financial crisis, this is the largest merger and acquisition in the European financial industry, which has caused market participants to worry about Fortis Financial Group's ability to pay. Coupled with the huge losses in bad debts that have emerged one after another, it can be said that misfortunes never come singly.
Under such circumstances, Fortis's stock price plummeted to the point where even his mother no longer recognized him.
The governments of Belgium, the Netherlands, and Luxembourg invested 11.2 billion euros and acquired 49% of the equity of Fortis Financial Group. This shows that its current situation is miserable. The market value is only slightly higher than 1/10 at the end of 2007, and has lost almost 90% of its market value.
, more than 100 billion euros were wiped out in an instant.
Now the Belgian government’s financial and economic officials have come to visit us, and the purpose is self-evident!
The hole inside Fortis Financial Group is not small, and it is impossible for the government's taxes to continue to be used to rescue it. They just want HSBC to take over this mess.
Having said this, Wang Yaocheng smiled with a deep look and stopped talking.
Si Wanru looked up at him and said, "Brother Cheng, then...since Fortis Financial Group has such a big problem, we'd better not take over it. We've already swallowed a behemoth AIG. Am I really worried about indigestion?"
"
"Haha, what a woman sees."
"Look, you are talking about me again. My mind is not as bright as yours, so why don't you speak clearly?"
"Don't just see that the current market value of Fortis Financial Group has plummeted to more than 20 billion euros, as if it has become garbage overnight. This is a blindfold, one-sided and incomplete. The 180-year history of Fortis Financial Group
The business philosophy and the power that has been developed bit by bit in the insurance industry cannot be wiped out overnight. It is still there and still has value, but it has just been abandoned by the irrational market."
"There is nothing wrong with Fortis Financial Group joining other banks to acquire ABN Amro. This is an opportunity to comprehensively expand and deepen banking business, and forge Fortis into a large financial group with a full financial license. The assets related to ABN Amro are also healthy. He is wrong.
What was wrong was that the timing of mergers and acquisitions was wrong, what was wrong was that the cash flow on hand was spent, and what was wrong was that people sought medical treatment in a hurry.”
"The government can invest 11.2 billion euros to save Fortis, but it is impossible to spend the second or third 11.2 billion euros. Under the strong opposition of the domestic people, the government is under tremendous pressure and will further spend huge sums of money to save Fortis."
This is unrealistic for Fortis. If there are other options, they will definitely make a wise decision, just like the German government."
After finishing speaking, Wang Yaocheng looked at Si Wanru's beautiful face and said, "This is our opportunity. Once lost, it will never come again. I am determined to Fortis Financial Group."
"But... well, tens of billions of euros have been spent in just a few seconds. It's really frightening to see all this next to you." Si Wanru gently rested her head on the other person's chest and said softly; "
I know you must have a point. Brother Cheng is always right. No matter what decision you make, I will feel at ease. I don’t have to worry about it myself."
"Hahaha, you really save trouble." Wang Yaocheng gently stroked her silky hair and said with a smile; "We will be negotiating with the Belgians and Fortis Group later. You can also participate, so you can listen more.
Take a look and think about it more, it will be of great help to your growth."
"Well, I listen to Brother Cheng."
about half an hour later
Wang Yaocheng walked in quickly from the outside, followed by HSBC President Mo Yuxuan, Executive Director Si Wanru, Senior Vice President and Director Du Bo, Wilkinson, Senior Directors Qi Yaonian, Miao Sicheng, Shao Weixin, and Director of the Secretariat He He
Chen and others filed in with documents and materials.
The negotiators from Fortis Group and Belgium quickly stood up, shook hands warmly, exchanged greetings, and then took their seats on both sides.
As the host, Wang Yaocheng delivered a warm welcome speech and then left the venue first.
There is no need for him to personally appear in the specific negotiations, it is enough for Mo Yuxuan to preside over it.
This kind of situation where you are fighting for profits with words is not suitable for the big boss to end it personally. Usually it is the younger brother who stirs up troubles below, and then the big boss makes the final decision when the whole thing is almost done.
Based on Wang Yaocheng's experience in dealing with Europeans for so many years, he knows that compared with Americans who focus on practicality, these European guys are smelly, tough, arrogant and difficult to deal with, and they look like poor nobles.
With the top-notch negotiation skills of Mr. Huo Jiaguang, the master of consortium mergers and acquisitions, the shareholding issues related to Telefonica and Vodafone went through many twists and turns. They were still entangled in Europe for more than two months. In the end, Wang Yaocheng needed to make the decision in person, which shows how difficult it is.
With the knife on his neck, he is still poor. This is the current situation of Fortis Financial Group.