Early the next morning, news about the Lee Group and Jardine Matheson Group hit the headlines of major newspapers, and relevant comments varied.
Xiangyu Daily naturally sang praises for its boss and commented that this acquisition was another victory for the Li Group. It directly won the Xiangjiang Telephone Group that originally belonged to Jardine in a head-to-head confrontation with Jardine. This was in the past
None of them have happened before. Even Hutchison Whampoa, which was snapped up by Mr. Li Ka-shing last year, was just a surprise attack from behind. It was only successful with the help of HSBC, and it did not challenge the strength of the British consortium.
Sing Tao Daily commented, "In the past few days, the competition between the Lee Group and the Jardine Group for the Heung Kong Electric Lighting and Heung Kong Telephone Groups has allowed all walks of life in Hong Kong to see what it means to be rich and powerful."
"However, in this acquisition, both the Jardine Matheson Group and the Lee Group became losers. They spent one-third more than the current market value of the group to obtain its controlling stake.
Billions of Hong Kong dollars were directly lost, and all of this money went into the pockets of the previous shareholders. They have to thank the Lee Group for their intervention, otherwise how could they have earned such high profits."
…
At nine o'clock in the morning, Li Guangyu, Li Xuemei, Zhou Xiaoning and Qin Yu, vice president of Starlight Real Estate Group, came to Heungkong Telephone Group. Today, Li Group will officially take over Heungkong Telephone Group.
When Li Guangyu and others arrived at the headquarters of Heungkong Telephone Group, they were greeted by a department general manager of the group named Zhao Qihui.
Zhao Qihui said, "Li Sheng, welcome to your arrival. The other senior officials are waiting for you in the conference room."
Li Guangyu felt that the Telephone Group was trying to make him look bad. There was no top management of the group who came to greet him, which was very unfriendly.
Li Guangyu and his party were led by Zhao Qihui to the group meeting room. Seeing the senior executives present, they understood why these top leaders did not come to greet them. The president, vice president, and department directors of the group are all British. I guess
I have no intention of doing anything under his banner.
Mike Willetts, CEO of Xiangjiang Telephone Group, said after Li Guangyu came in, "Li Sheng, since you are here, let's start the handover work. You can take over the group as soon as possible, and we can return to Jardine as soon as possible."
Li Guangyu looked at the senior executives present and said with a smile, "It seems that everyone is very anxious. Has Chairman Newbigen arranged all the work for you this time?"
Mike Willetts said, "Li Sheng, I don't need to worry about it anymore. We have many groups under the Jardine Matheson Group, and we have our own place to work."
Li Guangyu felt that Nubigian was ruthless enough and planned to take back all the senior management of the group and not leave any useful talents to Li Guangyu. He wanted to see if the Li Group had the ability to manage the telephone group well.
Li Guangyu said, "Mr. Willetts, Zhou Xiaoning is now the financial director of the group. Let the former financial director take over the work with him. As for everyone here who wants to return to the Jardine Group, please register now. I
Let someone take over the work with you immediately."
After Li Guangyu finished speaking, a dozen senior executives led by Mike Willits got up and came to Li Xuemei to register. Among them were several vice presidents, directors of human resources, general managers of the administration department, directors of the finance department, and several departments.
Executive.
Li Guangyu ignored those British people, but looked at the Xiangjiang executives who were leaving. Even if the British people left, he didn't expect that these people would also go back to Yihe. Li Guangyu was a little speechless.
After Mike Willits and others signed out of the conference room, Li Guangyu announced, "From now on, Mr. Qin Yu will serve as chairman of the board of directors and chief executive officer of the group. Zhou Xiaoning will be temporarily responsible for the financial work of the group until the group is straightened out."
After the finance, we will appoint the group's financial director."
Later, Li Guangyu learned about the positions held by the remaining senior executives. After some consideration, Li Guangyu said, "Zhao Qihui, general manager of the technology department, will serve as director and vice president of the group's board of directors."
Zhao Qihui was very happy. He did not expect that Li Guangyu would be promoted to vice president of the group as soon as he took over the group. He lamented that he was lucky that he did not return to the Jardine Group like some senior executives. There would not be such a high position there.
Zhao Qihui stood up and said, "Li Sheng, thank you for your trust in me. I will definitely cooperate with President Qin Yu's work and lead the telephone group to develop steadily and for the better."
After Zhao Qihui sat down, Li Guangyu continued, "Mr. Zhou Libin, deputy director of the human resources department, serves as a director of the group's board of directors and takes over as director."
After Zhou Libin's former director left for Yihe, he knew that his opportunity had come. Sure enough, Li Guangyu asked him to take over the director's position, and Zhou Libin immediately stood up and thanked him.
Li Guangyu then announced that Sudani from the Administration Department will serve as the General Manager of the Administration Department of the Group's Board of Directors, Wu Xinzhou will serve as the Manager of the Group's Safety and Security Department, and Wang Jing from the Finance Department will serve as the Deputy Financial Director.
Li Guangyu said, "Our Li Group has a new call group, and many senior executives have left. I hope that under the leadership of President Qin Yu, everyone can complete the handover of work as soon as possible so that the group can maintain a stable transition and not affect the lives of citizens."
"
Qin Yu immediately said, "Li Sheng, don't worry. We will hand over the work with the outgoing senior management as soon as possible and put it into the operation of the group. We will not let the use of Xiangjiang citizens' telephones be affected by our Li Group's taking over."
Li Guangyu believes that Qin Yu's ability can handle these problems. He has held positions in multiple groups under the Li Group and is very experienced in management. As for specific technical issues, he can leave them to Vice President Zhao Qihui.
The reason why Li Guangyu appointed Zhao Qihui as the group's vice president was because Zhao Qihui had served as the group's general manager of the technology department for four years.
Li Guangyu said, "As an industry that serves citizens, our telephone group must be more enthusiastic towards citizens in our future work. Citizens' reactions are our group's responsibility and must be dealt with in a timely manner. If they have nothing to do with our group,
Yes, we must patiently explain it to the public."
Qin Yu said, "Li Sheng, I will convey your requirements to every employee of the group and strictly implement them."
After Li Guangyu finished speaking, Li Xuemei said, "After your senior management has completed the handover of work, in addition to maintaining the stable operation of the group, we are now launching a compulsory acquisition in the stock market. Our Xiangjiang Telephone Group will be delisted from the Xiangjiang Exchange and become the Li Group.
Its wholly-owned holding group, you should contact Tianyu Investment Company to do a good job in this area."
These senior executives knew that Li Guangyu's shares in the group exceeded 95%. This time, the Li Group spent huge sums of money and obviously had no intention of giving up any more shares, so delisting became inevitable.
Qin Yu said, "Ms. Li, we will contact Tianyu Investment Company after the meeting to make various preparations for our group's delisting."
…
After the meeting, Li Guangyu, Li Xuemei and others came to the group president's office. Now Mike Willits was waiting for them to come over so that he could hand over and leave.
After Qin Yu and Mike Willits completed the handover, Li Guangyu said, "Mr. Willetts, I hope to see you again in this situation next time."
Mike Willits said, "Li Sheng, I'm afraid your wish will not be realized. Our Jardine Group will not give you such an opportunity again. Li Sheng is still optimistic about your Li Group, in case someone acquires you."
Things are not going well for the companies under the Li Group."
Li Guangyu is not worried at all about his groups. Otherwise, they are not listed. The only two listed companies, Jiayi Group and Kowloon Bus, both own more than 70% of the shares. Li Guangyu is not afraid of others snapping up.
Li Guangyu said, "We welcome Jardine Group to invest in our group, but we don't know if Jardine has the ability."
Mike Willits did not discuss this topic with Li Guangyu and directly said goodbye to Li Guangyu and others.