Chapter 1610： Investment in railway is inappropriate

"Have you ever thought that ZF might call high prices to make up for the losses?"

Yang Cheng questioned.

Beatrice glared with beautiful big eyes, "What? Are they crazy? Now that someone stands up to take the order, they should be grateful instead of asking for a higher price."

"Don't be so innocent, I'm ashamed to ask you how dark the Italian ZF is~"

Think about it, what is Italy's most famous? Not the beautiful Lake Como, nor the passionate football, nor the Milan Fashion Week, but the black hand dang!

The reason why the black hand dang has today's prestige is that it has an inseparable relationship with the Italian ZF. A ZF that can accommodate the black hand dang's existence, and also does business in partnership, where can it be clean?

In this regard, Atris has a deeper feeling, but it is somewhat embarrassing to be pointed out by a foreigner like Yang Cheng.

"Well, let’s not say whether ZF will help you. The Borromeo family will be on your side. All the reasonable requests you make will be supported by the representatives of the National Railway Company in the negotiation. This is me. A promise to you."

It seems that Beatrice is already a bloodbath for her husband. She does not hesitate to use family resources, but she does not know how much she paid behind her back. Don’t be naive to think that the family name is Borromeo, you can use family resources casually. It is absolutely impossible.

Yang Cheng didn't say that he disagreed, but just counted with his fingers, "Reduce employees, bear debts, clean the board of directors, and reorganize management. Are you sure you can agree to these terms? I think ZF may not agree to any of them."

"Damn~ you have too many requests~" Beatrice said with shame.

Yang Cheng disagreed, and said relaxedly, "This is just the general direction. I'm afraid there are more details. And now it's a buyer's market. You can't find me?

Seeing that Alitalia is a big pit, there are not many idiots jumping down. Unfortunately, maybe I am just one~"

Although he compared himself to an idiot, Beatrice would never really treat Yang Cheng as an idiot, and smiled bitterly, "You give ZF a little bit of sweetness, otherwise they would rather go through the bankruptcy process and sell their assets to pay off their debts."

Yang Cheng stretched out her hands, "It is a good choice, everyone washes and sleeps, why bother to kill more people for a huge pit~"

Beatrice pressed her head with a headache, "Let's talk about it, how can you start the negotiation sincerely~"

Yang Cheng thought for a while, "Does the National Railway Company shares you mentioned before count?"

Beatrice affirmed, "Of course, the Italian National Railway Company is embarking on the privatization process. This is the first state-owned railway company on the European continent to promote privatization. It is expected to sell 40% of the shares to private companies. ."

In other words, there will be no obstacles in the Zheng policy, which is easy to handle. Yang Cheng was worried that ZF would not agree to sell the shares of the state-owned railway company to private ownership. Now Beatrice’s words dispel his biggest concern. concern.

"Tell me about the specific situation? About the National Railway Company."

Beatrice put down his wine glass, stood up and held his shoulders while organizing language while saying, "During the privatization reform of British Railways, the entire railway system was divided into 100 separate units for sale~"

Yang Orange interrupted aloud, "Wait, didn't you say that Italy was the first country to promote the privatization process?"

Beatrice clenched his fist and punched Yang Cheng in the void, "Listen carefully, I was talking about the first country in the European continent~"

Yang Cheng waved her hand in embarrassment, "Sorry, you continue~"

"Different from the British reform plan, the Italian National Railways will continue to maintain a complete integrated railway. At the same time, the privatization of the Italian National Railways will not cause obstacles to other operators and continue to provide services to all operators.

The overall plan includes two projects: One is the sale of part of the electricity supply network to the Italian Energy and Power Company, which is a privately owned grid operator in Italy. Our family has a shareholding. Currently, the two parties are working on the medium and high voltage grids throughout Italy. Negotiations and results have been obtained;

The second is to split GS company and sell part of its business. GS company is a subsidiary of the Italian National Railway Group and is responsible for the management of the 13 largest railway stations in Italy.

According to the plan, GS will be split into three parts: GS Railway, GS Retail and GS Real Estate. The retail part of the business will be sold. This is where we can operate. Take GS Railway and GS Real Estate, and then acquire equity The way of replacement is to transfer the operation rights to the national railway company and transform it into shares of the national railway company according to market value. "

Yang Cheng went through it in his mind and felt that the plan was generally okay, and nodded, "This plan is okay, but there shouldn't be a profit problem with the Italian railway company? Why are they privatizing?"

Beatrice sat down again, this time she was a little closer to Yang Cheng, and she could feel the heat from Beatrice's body in her calves.

"You are wrong. It is precisely because there are some problems with the profitability. In 2014, the annual operating income of the National Railway Group increased by 0.7% to 8.4 billion euros, and its gross profit increased by 3.9% to 2.1 billion euros.

However, after-tax net profit fell by 19.8% to 659 million euros due to multiple factors such as increased operating costs, depreciation and currency depreciation.

This situation became more serious in 2015, when net profit fell by more than 30% to less than 400 million euros.

However, the railway group has also made a reformed investment plan. The first to bear the brunt is to merge into the National Highway Group. After the merger of the two groups, the income will increase exponentially.

In addition, after privatization, the National Railway Group will further enhance the competitiveness of enterprises and increase the efficiency of transportation operations.

And in-depth management and development of the domestic market, mainly in several key cities, such as priority to increase the capacity of Milan, Rome and Naples to serve commuter passengers, and actively respond to the competition of high-speed rail.

Purchasing new high-speed trains to strengthen competitiveness in Europe. The group's goal is to enter the high-speed passenger transport market in France and Belgium by 2018. "

Yang Cheng felt that this plan was too big. The bigger the plan, the more likely it was that loopholes would appear. Only from Beatrice's words, the problem could not be seen, but Yang Cheng did not dare to take it lightly.

Investing in traditional state-owned enterprises should not expect greater returns. It is the same as investing in the UK's infrastructure sector, with long-term stable profits, which is a conservative investment.

Although eggs must be placed in different baskets to ensure that the investment does not lose money to the greatest extent, is it really necessary to invest in the infrastructure of the UK and Italy at the same time?

Yang Cheng suddenly retreated Alitalia could ask for it. Apart from other things, just the share on the Atlantic route and the time of take-off and landing at Heathrow Airport are worth a bet by Delta Air Lines. Of course, no matter how bad, Alitalia still has a dominant position over the Apennine Peninsula. The big deal is simply to define Alitalia as a low-cost airline and face-to-face collision with Ryan and other companies. It is really hard to say who wins and who wins.

In any case, Italy, as an important tourism market in Europe, does not lack the source of tourists. It is just because of the sluggish economy that travelers are more willing to choose lower-priced low-cost airlines, as long as resources are integrated and an appropriate number of employees are left. It is not difficult to regain the direction of profitability.

Therefore, it is not others who really hinder Alitalia’s return to life, but ZF and the union itself. They want too much and fail to put themselves in a proper position. Regarding this, Yang Cheng is not used to problems, either listen to me or hold your own. To die with glory in the past is that simple and rude.

Now that Alitalia has the feasibility of acquisition, Yang Cheng can put forward targeted conditions. Before that, he still wanted to acquire shares of the National Railway Group. After listening to Beatrice's introduction, he felt that it was unnecessary.

Then you have to change another condition. For example, in Italy's energy market, as a country with a lack of natural energy, all energy needs come from imports, which gives people like Yang Cheng a chance to take control.

Want to buy oil? Buy gas? Yes, hand over a part of the equity and I will sell it to you~

What disagree? I'm not selling it!

It sounds naive, but this is the sorrow of an energy-starved country, and it is still the kind that cannot be changed. There is no way, who will let you not?

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