Chapter 1511

In the evening, Li Dong and the person in charge of MIH also had a talk.

Compared with ABSA, MIH does not want to give up Teng Xun because of the different nature of its shareholding, nor does it want Teng Xun to collapse.

No matter how many shares ABSA holds, naspers, the parent company of MIH, will have surplus money in hand. These shares can be redeemed before the expiration of the pledge period.

So the more Teng Xun rose, the more MIH made.

On the contrary, the annual dividend profits they get are not dividends in name, but the interest paid by naspers to ABSA.

Because of the different nature of holding shares and the different benefits, they naturally consider different things.

In fact, ABSA is eager to use Teng Xun's equity in exchange for the opportunity to raise funds from afar and get excessive returns.

And MIH, in fact, hopes that the distant side can fail and give Teng Xun an opportunity to rise.

However, hope return to hope, Teng Xun today, but can not see this hope in a short time.

So MIH in the stock market a few days ago, there was no action.

In fact, it's hard to think about it.

MIH's strength is not too strong. Its parent company, naspers, currently has a market value of only $15 billion. In 2008, its revenue was only $3 billion, and its profit was less than $600 million.

The boss of naspers has acquired and invested many enterprises around the world in recent years. In fact, naspers doesn't have much money now.

According to the analysis of professionals, if Teng Xun does not have any breakthrough, and just waits for capital rescue, and wants to maintain the current stock price unchanged, the follow-up investment will be hundreds of millions.

The unit of this billion is US dollar, not Hong Kong dollar.

On the 4th, in order to maintain the price of HK $55, Teng Xun put in HK $1.2 billion, which was not a small sum even for naspers.

Ma Huateng dares to be rich, but investment institutions dare not.

For PE or VC oriented institutions, timely stop loss is very necessary, adding oil tactics is a big taboo!

Few investment banks will continue to support the enterprises they invest in when they are in crisis. It is the general trend of the whole industry to let the investment banks hit the rocks.

However, MIH is reluctant to give up Teng Xun's multi billion dollar stock, which was even worth $7 billion a few days ago, equivalent to half of the naspers group.

Now say to give up on give up, who can give up, who can be reconciled?

The conditions given by Li Dong are not unconditional compensation, but also financing means.

Financing, in fact, is also a synonym for risk.

PP listing, can really create more value than Teng Xun?

Financing PP, the current distant pricing is not low, and even if a miracle is created, what is the rate of return?

Accounting is the instinct of all investment institutions.

Calculate to go, MIH all found, abandon Teng Xun, take refuge in the distance, the rate of return is far from enough.

But the same, don't give up Teng Xun, also don't take refuge in the distance, if Teng Xun's own fiasco, then they are nothing, the loss is more serious.

Today's form is to either recover a little or lose all.

Of course, there is the last possibility, Teng Xun can still stand up!

As long as Teng Xun still has the hope of turning the tables, they can continue to support Teng Xun, and they can also obtain greater benefits. This is the most rewarding possibility among all the possibilities at present.

Holding the last glimmer of expectation, although MIH people talked with Li Dong for a long time, they still did not give a positive reply.

Before going out, the person in charge of the other party even said a standard Chinese sentence "harmony makes wealth".

In fact, there is no need to cooperate with Teng Li in the distance.

Li Dong laughed at this.

MIH people are still in a period of hesitation, he can understand, now it seems that the biggest hope is ABSA.

As long as the other party tries to make naspers give up the right to redeem Teng Xun's shares, and then sell, and no one takes over the offer, Teng Xun's share price will definitely fall again, even to the despair of everyone.

10.5% of the shares, which is not a small number.

What's more, ABSA, as the third largest shareholder, has sold off. Can other people still sit still?

Some of the major circulation shareholders who are still in the hesitation period will follow suit, and some shareholders who want to gamble will follow suit. In fact, a small proportion of those who really dare to gamble to the end.

Even if Ma Huateng and Teng Xun executives and MIH can stabilize, there are more than 30% shares of Teng Xun in the outside world. If the shares of more than 20% are finally sold, Teng Xun wants to keep the share price unchanged, at least more than 15 billion Hong Kong dollars will be needed to rescue.

This money is not a small sum for anyone, including Li Dong now.

Of course, some large investment banks are not afraid to gamble.But at this time, PP also started financing. Is it gambling on the invisible future or on PP with Li Dong's support?

That's why Li Dong said before that whether the two sides agree or disagree this time, he will open financing channels.

The main point is to cut off the rescue and gambling of these investment banks.

Moreover, the introduction of PP investment institutions, the strength will again surge, the strength of one side will be weakened, the strength of the other side will surge again, the winning rate will again tend to PP many, at this time, there are really not many people who dare to bet.

……

After seeing off MIH, Li Dong sat back on the sofa and said after a long time: "three days, I'll reserve time for ABSA for three days, so that they can find a way to let naspers give up the right to redeem!

Three days later, no matter whether the other party has succeeded or not, and regardless of MIH's consideration, three days later, the official announcement of the news, PP financing!

Today Tengxun stock price decline is not big, the key lies in yesterday's influence.

And this kind of influence can not last too long. We are still in a wait-and-see state. On the one hand, we are watching Teng Xun's own actions, on the other hand, we are watching our actions.

Once we have a big move, Teng Xun's share price will fall again! "

It's not the first time that Li Dong likes to talk to himself. In fact, this is not what he said to Bai Su, let alone to Tan Yong, but to himself.

Bai Su, who was standing on one side, didn't answer the question. Instead, he said in a low voice: "Mr. Li, yu'ebao's news has been greatly hyped.

Online even in propaganda, yu'ebao has absorbed tens of billions of funds!

About your trillion fund plan, also in the Internet wantonly spread.

There are a lot of negative news on the Internet. Some people say that illegal fund-raising is involved in the distance. Some people say that it is a kind of damage to the financial system to exchange real money for virtual numbers.

There are also many people who want to disclose the specific information of yu'ebao, including the flow of funds.

Now, there is a new word on the Internet, self fusion!

Many people speculate that yu'ebao's capital may be used for its own development from afar, because it involves its own real industry, which is equivalent to financing its offline industry with online funds.

This is also criticized by many people.

There are even some well-known economic experts who are advocating the government to legislate to avoid risks ahead of time.

Before the new bill appeared, these experts suggested that yu'ebao, zhaocaibao and caifengtong should be restricted temporarily and should not be popularized on a large scale. They can be used as pilot projects in some regions.

And the other side also suggested that before the pilot project, each platform should pay a huge amount of margin to ensure the safety of platform funds.

This has also been supported and recognized by many people... "

Li Dong nodded his head and said, "this is not a bad idea. In fact, if it wasn't for us, I would have suggested it.

Internet finance has just emerged. At this time, it is easy to have problems if we can't strictly control and supervise risks in advance.

Let's say that the financing link, now they absorb less funds, if more, Teng Xun encountered such a big crisis this time, can they really resist not using this fund?

Even if through some programs, reasonable use of this fund, finally Teng Xun is finished, who is going to ask for the money?

Therefore, it is necessary to legislate, supervise, pay huge amount of margin and control risks.

What's more, to raise the threshold, we should not allow any enterprise to enter. Any enterprise should be qualified to build this platform.

Of course, that is to say, it is also for the good development of the entire market environment and the entire Internet financial industry

But now, we really don't have the money to pay this huge amount of deposit. According to their opinion, it takes at least several billion dollars to calculate the huge amount. At this time, where can we get the money to pay it?

What's more, it's very troublesome to restrict and carry out pilot projects in the whole country... "

Li Dong said with a slight sigh: "before, I thought that everyone would make a fortune together and make a big fortune with a dull voice. In any case, the three of us have interests to speak of. If we join hands, we will not have such a big disturbance.

But now, we don't take Teng Xun to play.

They don't want to take advantage of us. They even want to give us some trouble. It's normal.

I don't care about it for the time being.

Waiting for a response from the government.

Tell yuan Chengdao that they don't need to be hard headed this time. Once the government makes restrictions, we will compromise.

Now we can't afford to offend financial institutions.

Far away in the bank, there are up to 80 billion loans, if there is no other action in the distance, and they slowly negotiate, this is not a problem.

Not now. Now we don't have the energy and time to fight them.

Otherwise, it will be us who are in trouble

Li Dong's "obedient compromise" made Bai Su feel a little uncomfortable.She did not know why she wanted to raise this idea.

Li Dong's choice of compromise is actually a very correct choice.

Can oneself why is afflictive?

Since the end of 2007, he has become the Secretary of Li Dong, the Secretary of this old classmate.

Li Dong has won many victories in recent years. In fact, there are times of compromise during this period. However, it is not a compromise in the general direction, nor does it involve the strategic objectives in the distance.

Moreover, even if compromise is made, the interests can be maximized from afar, and various struggles will not be broken.

But this time, Li Dong almost did not make any resistance, so easily admit defeat.

Is it Li Dong who doesn't value yu'ebao?

In fact, it is not only yu'ebao. Once the compromise is made, even the whole cartoon will be affected.

Ten thousand cartoon involves the whole remote Internet industry. The concept of Internet finance was also put forward and promoted by Li Dong himself at the Internet Conference.

During this period, Li Dong actually contributed a lot to Wan cartoon and Internet finance.

Now, Li Dong gave up the fight.

In a simple word, the early efforts and struggle, almost all hit the water.

Internet finance is not a bait to divert Teng Xun's attention. In fact, the value of Internet finance is not even lower than that of defeating Teng Xun.

Li Dong said it was Teng Xun's fault. In fact, maybe he was tired or his fighting spirit had disappeared. In short, in Bai Su's opinion, when Li Dong said to give up, he must be struggling in his heart.

Such a strong man, such a man is not willing to ordinary men, also never admit defeat, this time so admit defeat.

Li Dong, is it true that because of the marriage, once full of blood, now has cooled?

Bai Su can't say clearly, and she can't tell clearly. She only knows that such a choice should be painful for Li Dong.

……

Does Li Dong suffer?

Maybe there is a point, but it is far less complicated than Bai Su thought.

People are all growing up, which Li Dong has been saying.

Maturity, after all, has to pay a price.

Once the blood boiling, once the war days and battlefield, that is once.

Today, even Li Dong himself knows that he is not as passionate and passionate as he was at the beginning.

Compromise, in fact, is an art. Li Dong has heard this many times, and now he has learned it.

Of course, this compromise is not unlimited. When it comes to resistance, their blood is still there.

Like Ma Huateng, he has been compromising in recent years. He has compromised more than Li Dong.

But this time, Ma Huateng is not willing to!

Not long after Li Dong saw off MIH, Ma Huateng looked at the big nose on the opposite side and said slowly, "Dawei, do you really want to give up?"

The big nose on the opposite side has known Ma Huateng for many years.

At the beginning, in Teng Xun's most difficult time, Ma Huateng ran around, and even nearly 600000 sold Teng Xun.

Later, although there were several institutions to support, but because Teng Xun has been burning money, later several are not willing to continue to pay.

When Ma Huateng was in despair again, it was the big nose. Wang Dawei, who was the vice president of MIH Huaxia business, broke into his office and gave Teng Xun a valuation of $60 million!

As a result, MIH entered Teng Xun, which made Teng Xun have capital development and Teng Xun legend in the following years.

This time, Teng Xun encountered a crisis again. Although Wang Dawei is not working in MIH, he is actually the spokesman of MIH in Teng Xun.

According to the original schedule, Wang Dawei should be in the United States at the moment.

At this time, the other party appeared in Xiangjiang, some things need not be explained, everyone is clear.

Wang Dawei's Chinese is very good. It's not him who led the team to see Li Dong just now, but he knows all these things.

Hearing Ma Huateng's question, Wang Dawei sighed and said helplessly: "pony, I've been fighting for you, but Teng Xun's current situation is of no use to me.

The decision made by the headquarters is not up to me or Li Dong.

The key is Teng Xun himself!

Teng Xun can not come up with a good plan, can not move the headquarters, give up, is also inevitable.

I have feelings with you. They don't have them. They only have money in their eyes. No one can change that.

As long as Teng Xun can always create value, MIH and naspers have no possibility to give up.

But... "

Ma Huateng rubbed his cheek. He knew it. After a while, Ma Huateng said again, "how long can you give me?"

This time is the time for MIH to give up Teng Xun.

Wang Dawei pondered for a moment and then replied: "it depends on the specific situation. If Teng Xun's situation improves and the stock price does not fall below the initial value of this year, MIH will not give up.On the other hand, if Teng Xun has new plans that can impress MIH, in fact, I hope you can tell them and buy time for yourself.

Even with a 10% chance, the MIH will not make a quick decision.

But if the front of these can not do, can only keep waiting, that MIH abandoned Teng Xun is sooner or later

Ma Huateng murmured: "if you fall below 50, you give up? Your patience is really strong. "

Teng Xun, which had a valuation of less than $60 million, still has a market value of more than $10 billion. If it falls below HK $50, the other side will be shaken?

Capital is cold-blooded.

In the heart of a sigh, Ma Huateng already knew the other party's choice, can make money, then follow Teng Xun has been going on.

Can't make money, take back how much profit, in short, will not accompany Teng Xun together crazy.

Market value is the foundation of Internet enterprises.

How much money can you have if you don't have market value and expect profits to pay dividends?

Teng Xun made a profit of 2 billion last year, and it is impossible to pay dividends. Even if it is distributed in half, MIH will get more than 300 million profits. In fact, the dividend is much less than this.

Their investment institutions, the most fundamental source of profit is the market value of Internet enterprises.

If the market value falls, the fundamental interest will be lost. It is also a matter of course to give up.

The only thing that makes Ma Huateng uncomfortable is the psychological expectation price of the other party, 50 Hong Kong dollars!

Today, Teng Xun's share price, affected by yesterday's impact, and Teng Xun's small-scale buyback, fell slightly, but did not rise, and now remains at around HK $54.

In this way, MIH is not so firm.

Otherwise, it will not set such a close psychological expected price.

Ma Huateng took a breath and finally asked, "what price did you pay, Li Dong?"

But Wang Dawei shook his head and said nothing. Some things could be said and some things could not be said.

It's because of his personal relationship with Mr. Ma Teng that he can't disclose his personal relationship with Mr. Ma in advance.

Ma Huateng saw this with a smile and did not ask again.

"HK $50..."

Murmur again, Ma Huateng has already made a decision in his heart. Before MIH has made a decision, he will not wait for them to make a decision.

Teng Xun can die in his own hands, even in the hands of Li Dong, but can not be killed by these capital institutions!

If Teng Xun died of the betrayal of MIH, it will become the biggest shame in his life!

Capital controls everything?

It depends on who controls it!

Since the other party has exposed this bloody fact, then don't blame yourself for not talking about human feelings. We should only focus on the theory of interests.

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