Chapter 396 Cathay Pacific's acquisition is blocked
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On the morning of August 9, Li Guangyu personally went to HSBC to visit its chairman Shen Bi, hoping to get the 30% of Cathay Pacific shares they held, and then find a way to acquire the 70% shares of Swire Group.
Li Guangyu had a good idea. Taking advantage of the sharp fall in the stock market, HSBC lost a large amount of money on his own, thinking that HSBC would plan to transfer the equity of Cathay Pacific, but his idea was too naive.
When Shen Bi heard about Li Guangyu's intention, he rejected Li Guangyu's request to acquire Cathay Pacific without even thinking about it, without even mentioning the sale price.
Li Guangyu said: "Mr. Shen Bi, the shares held by HSBC do not have much effect, and Cathay Pacific's current profits are not very high. There are not even direct flights to London. And you will The performance of HSBC is not very good. This sale of Cathay Pacific shares will at least not make HSBC’s annual report too disappointing to investors.”
After hearing what Li Guangyu said, Shen Bi was even more unwilling to sell Cathay Pacific shares to Li Guangyu. If Li Guangyu hadn't cheated their British consortium in the stock market, why would his HSBC's profits this year be so low? .
Fortunately, for the sake of the reputation of their own groups, several major British financial groups did not choose to default on their debts. They tried every means to make up for the shortfalls with their banks. Otherwise, HSBC would be in even greater difficulty.
Shen Bi said: "Li Sheng, I am very optimistic about the development of Cathay Pacific Airways. Especially after you came to propose a share purchase, I am even more sure that Cathay Pacific Airways has an unlimited future. The companies you invest in all have huge returns. , we at HSBC also believe in your vision, and we intend to hold the shares of Cathay Pacific for the long term."
Li Guangyu was speechless about this. He thought that he was optimistic about it, so he didn't sell it to him. This was really annoying. Li Guangyu estimated that if he went to discuss with Swire Group, Swire Group would not sell the shares to him. It seems that if you want to own an airline, you need to think of other ways.
Li Guangyu said: "Mr. Shen Bi, you don't need to provoke me with such a reason. In my group, the two companies that are public service enterprises are not very profitable, whether it is Kowloon Bus or my wholly-owned Xiangjiang Telephone Company." The group doesn’t even make much profit.”
Shen Bi said: "Li Sheng, if your two groups spend money like that, no matter how much profit they make, they can't sustain it. Just take your Kowloon Bus, many of its more remote routes are operating at a loss. No money is being made. Yes, but your Li Group has a very high status in the hearts of the citizens of Xiangjiang."
Shen Bi still admires Li Guangyu. Since he took over the Kowloon Bus Company, although he has provided some convenience for his group, he has still opened a number of new lines to provide convenience for local citizens to travel. Especially in some suburban areas. The place is simply losing money, but the Li Group still does this.
Heungkong Telephone Group is also replacing aging lines for citizens, and has also opened a 24-hour service hotline to solve problems for citizens at any time, without any increase in costs.
Shen Bi knew very well that there are very few people in Xiangjiang who can do this to Li Guangyu today. If they don't have such a heart at all, they would like to put all the money in their own pockets. Otherwise, if they are weak-minded, it would be difficult to acquire such a group. Billions of Hong Kong dollars are currently not very profitable every year, and few people can afford it.
Li Guangyu never thought about how much money he would make from Kowloon Bus. If he were not responsible for shareholders, he would increase investment in it. The profit line of 15% prescribed by Xiangjiang has been only about 5% every year for Kowloon Bus in recent years. profit.
Li Guangyu originally wanted to privatize Kowloon Bus, but with such a profit, many shareholders were still unwilling to privatize Li Guangyu. They wanted to continue to hold shares. Li Guangyu later did not force delisting from the stock market.
Li Guangyu has only invested a lot in Heung Kong Telephone Company over the past year. As long as the lines are replaced and maintained well by himself, it will last for many years and he can just sit back and make money.
Li Guangyu said: "Mr. Shen Bi, you also know that I am not acquiring these public service companies to make a lot of money. I will definitely get more returns by investing this money in other industries. I am also thinking about better things." It only serves the citizens of Xiangjiang. Currently, the development of Cathay Pacific cannot keep up with the economic development speed of Hong Kong, which is quite inconvenient for the citizens of Xiangjiang."
Shen Bi was not moved by this. Currently, Cathay Pacific is the only airline in Hong Kong. The Hong Kong government will not allow Chinese families to enter the aviation field. With the explicit and covert support of the British and Hong Kong governments, he believes that the development of Cathay Pacific will surely grow. The better comes.
Shen Bi said: "Mr. Li, I'm really sorry. We at HSBC really have no plans to sell it. If we at HSBC have such plans in the future, I will definitely be the first to contact you."
Seeing this, Li Guangyu said nothing more. He knew that Shen Bi was determined not to sell it to him, and whatever he said now was just useless work.
Li Guangyu said to Shen Bi: "Mr. Shen Bi, although Cathay Pacific currently dominates Hong Kong, I believe that in the near future, it will no longer have such a status. You, HSBC, need to be cautious in holding shares. After all, you are also taking It’s just an investment of the client’s money.”
Shen Bi smiled and said: "Mr. Li, I'm afraid it will be difficult for Xiangjiang to establish a second airline. Cathay Pacific is enough for us. I think the Xiangjiang government will consider our actual situation and will not let a second airline Companies come out to create a situation of malicious competition."
Shen Bi doesn't know what Li Guangyu means. He seems to be thinking about setting up a new airline by himself. If this rich man really lets him establish it, the value of Cathay Pacific will be halved immediately. .Look at his approach to public service enterprises. Once an airline is established, the price of air tickets will be significantly lowered by him. How can Cathay Pacific rely on this monopoly advantage to earn high profits?
Li Guangyu said: "Mr. Shen Bi, some things are not up to you and me. Even the Hong Kong government has to make concessions in some aspects. Cathay Pacific's monopoly will not be of any benefit to the development of Hong Kong. There are only a few Only through competition can companies better serve the citizens of Xiangjiang."
Shen Bi still doesn't believe that Li Guangyu can launch an airline in a short time. At least within the next two years, he will not even think about establishing an airline in Hong Kong.
Shen Bi said: "Li Sheng, you don't have to worry about whether our shares will depreciate or not. The current economic situation in Xiangjiang is not very good. You should give more thought to the development of your company. If you expand too fast, the foundation will be raised. It’s unstable but can collapse easily.”
Li Guangyu said no more, said goodbye to Shen Bi, and left HSBC.
After Li Guangyu left the office, Shen Bi contacted Wooden Swire and told him about Li Guangyu's acquisition of Cathay Pacific Airways.
Wooden Shihuai did not expect that the Lee Group was eyeing its own airline again. It was really prepared to buy out all the companies owned by their British-funded consortium before giving up.
Wooden said: "Mr. Shen Bi, you can rest assured that our Swire Group will not give up its shares in Cathay Pacific. It is simply a dream for Li Guangyu to take over Cathay Pacific."
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