When I am reborn in Hong Kong, I just want to lie down

In Germany, there is a very strange bill called the "Volkswagen Act". The most important article of this bill stipulates that those who hold less than 20% of Volkswagen shares have the voting rights to actually hold the shares. Shares of more than 20% of public shares are only counted as 20% of the voting rights, unless more than 80% of the shares are owned.

In other words, unless you hold 80% of Volkswagen's shares, you cannot control Volkswagen.

The Lower Saxony state government, where Volkswagen is located, holds exactly 20.1% of the shares. Therefore, even if you buy out all the shares, you will not be able to control Volkswagen.

Volkswagen was nationalized after the war and later underwent privatization reforms, but the government always held part of the equity because Volkswagen is a symbol of German industry and provides a large number of jobs for Germany. Its welfare benefits are comparable to those of some Asian countries. civil servant;

Based on the above reasons, this Volkswagen Law is inconsistent with the provisions of the original German company law. The original company law stipulates that as long as you hold 75% of the equity of a company, you have control over a company. Therefore, the "Volkswagen Law" The purpose is to keep the public in Germany forever.

As early as the last century, when Li Bu was buying and selling around the world, the stock markets of these European and American countries were his focus. The local protectionism in some countries allowed him to only hold shares but not control, such as Volkswagen in Germany. , he has been coveting it for a long time, but he can't circumvent the public bill. He is waiting for an opportunity.

Now the time and conditions have finally come. As early as 2004, Wedekind secretly pushed the EU to ask Germany to amend the Volkswagen Law. Because Germany refused to amend the Volkswagen Law, which was contrary to EU law, the EU sued the European Court of Justice. Popular laws are protectionist and hinder the free movement of capital within the EU.

It was not until 2005 that the European Commission and the German government went to court, and at this point in time, when Wolfgang took office, Porsche appeared like a white knight and successively acquired Volkswagen shares.

Because securities laws stipulate that if more than 30% of the shares are acquired, it will constitute a tender offer. However, Porsche only held 22.1% of the shares this year, and has always declared that no matter who wins or loses the lawsuit between the German government and the European Commission, They can at least guarantee that the controlling stake of Volkswagen is in the hands of Germans and will not be controlled by foreign capital, and claim that they will not fully acquire Volkswagen. At least on the surface, Porsche seems to be standing on the high ground of morality and doing it for the sake of national justice. Acquired public shares.

All this is just a ploy by the Porsche family.

In the original time and space, Porsche already held 27.4% of the shares, but now it only holds 22.1%. This is what Li Bu released to them. As the saying goes, when people work, they have to give them some benefits, otherwise they will not Will work.

Until January 2007, a rumor spread in the stock exchange market that Porsche and its partners actually held 1% of Volkswagen's shares. This made many people wonder when the other party owned 31% of the shares. ?

At this time, the market has been shocked by this news. A tender offer warning line exceeding 30% means Porsche's acquisition intention, and its purpose is to acquire Volkswagen.

By May, the Volkswagen Law was ruled invalid by the EU Court of Justice. This also announced that there were no legal obstacles for Porsche to acquire Volkswagen. Without the special protection of the Volkswagen Law, Volkswagen had become a member of an ordinary company. As long as it acquired other With 5% of the shares, you can actually control Volkswagen.

A short-squeeze war of the century began. At this time, Porsche and its partners held 31% of the shares, while Porsche actually held 22.1% of the shares, while the Lower Saxony state government, where Volkswagen is located, held 20.1% of the shares. Porsche California State , owning a total of 42.2% of the shares and 57.8% on the market.

Now that Porsche has shown its determination to acquire Volkswagen, there are speculation opportunities in the market.

Porsche and its partners have exceeded 31% of the company. After that, every acquisition must be announced to the outside world.

As soon as the news leaked out, the value of Volkswagen ordinary shares with voting rights soared from 30 euros to more than 300 euros. However, Porsche would not waste money on preferred shares without voting rights.

Financial giants all agree that when Porsche absolutely controls Volkswagen, the price of common shares will inevitably return to normal valuation and the price of preferred shares will increase. Then the financial giants will choose to short common shares and go long preferred shares. Then you will make money on both sides.

What they didn't know was that someone was already waiting for them.

In fact, Porsche is a little panicked. They only hold 22.1% of the shares. This has changed from the previous life. In the original time and space, it received 42.1% in one year. There must be something unknown happening, but now , they worked hard for a long time, and with the sudden appearance of partners, they only had 31% of the shares.

Just when they were at a loss, someone found them again.

"Who are you? Why don't you introduce yourself?"

"Hello, Mr. Wei Jin, we have what you want. We know that you want to get the Porsche family's things back, but as long as you agree to our conditions, we will fulfill your wish."

Hearing this stranger's words, he felt a little uncomfortable. Why?Do you have any remaining shares?

"Tell me about your conditions?"

"We can share technology in the automotive field, not only now but also in the future."

"This is impossible. Which car company are you from?"

Seeing the other party's anger, the other party remained calm and unswayed by his anger.

"Since you are unwilling, let's change the way of cooperation. Porsche belongs to us and Volkswagen belongs to you. What do you think?"

Hearing what the other party said, he was speechless. This was not something they could give up.

"Mr. Wei Jin, this won't work, that won't work either. What do you want?"

Wei Jin asked a question: "How many shares do you have?"

"all!"

Wei Jin was silent, unable to express his anger at all.

"In this case, Mr. Wei Jin, we can make a new plan. I think you will definitely like this plan."

Hearing that there were other options, he immediately expressed interest and asked, "Let's see if we can reach an agreement."

When a stranger sees that the other person is interested in the third option, it is like a drowning man seeing a straw, and he feels a sense of accomplishment in his heart.