Reinventing the Millennium

The Yike stocks held by Zhou Xin originally came from the financing settlement of Guohao.com. Like Su Wei and Yu Hong, he invested part of the money into the just-started Yike.

However, his shareholding ratio is the smallest.

To this day, after numerous financings and listings, Zhou Xin still holds nearly 0.8% of the shares, worth around US$50 million.

He himself has the salary of the president of a medical group, and he has always been restrained in spending money. However, after marriage, he and his wife Yu Lanyu developed a hobby of fishing. In addition, Yike's stock also reflects the distance between him and Mr. Fang to a certain extent. , the stocks that have passed the lock-up period have not been moved.

However, since it coincides with the good news about a small family, and Fang Zhuo is indeed raising funds here, as long as the acquisition of bank shares can be successful, he will definitely make a profit without losing money, so he can bring it in.

Allianz Group acquired 2.5% of ICBC's shares for US$1 billion, and this money is no longer a problem.

Now there is a new target, American Express, which still needs to raise US$200 million to acquire 0.5% of ICBC's shares.

Not only that, but taking into account the exchange with Paulson and the current wave of shareholding reforms and listings of domestic banks, Fang Zhuo believes that at least one more opportunity can be obtained.

Looking at this wave, almost all are foreign investors, but there are also familiar names.

Fang Zhuo noticed a valuable piece of information while inspecting the warehouse. The partner chosen by Bank of China was the Royal Bank of Scotland, but the latter brought in Merrill Lynch and Lijiacheng Fund to raise funds.

This move made the Bank of China quite dissatisfied. An important factor was that the third party that was forced in was not under control.

At this stage, any bank must consider the issue of controlling its partners. This is the case for ICBC and the same for Bank of China.

Fang Zhuo didn't know what Paulson's bottom line was for protecting Allianz and American Express, and whether or what degree of cooperation could be reached in the end. However, since ICBC's boss was willing to shoulder the pressure, he hoped that the MIGA Fund The consortium can have the best harvest on this basis.

Is Goldman Sachs willing to abandon Allianz?

With the strong will of ICBC, maybe it can be done.

Is Goldman Sachs willing to give up American Express?

I don’t know if it is possible to rely solely on the strong will of ICBC. Perhaps the subjective initiative of MIGA funds needs to be added.

There is no room for the two companies to attack ICBC. So, instead of letting Bank of China cooperate with a privately promoted Royal Bank of Scotland, it is better to try the effect of Goldman Sachs + MIGA fund.

Fang Zhuo thought that he could give it a try, and there would be no loss anyway. Governor Jiang happened to be here, and he would be able to introduce the leaders of the Bank of China to a secret visit, which would not be in vain for him to act as a thug.

Judging from the information currently available, ICBC's matter is not that urgent, but Bank of China may need to grab some points.

MIGA Fund continues to handle affairs calmly, learning from the cooperation between Goldman Sachs and ICBC to formulate a general framework and provide decent competitiveness step by step.

But Fang Zhuo made a small personal request in another phone call with Governor Jiang.

"Mr. Fang, Paulson's attitude is quite resolute. He is not only looking for me, but also for the leaders above." President Jiang communicated the situation and expressed confidence, "But since the industry has found you, you are so outstanding. , then we will not give in.”

Fang Zhuo was very touched by Lao Jiang's resistance to pressure. He first expressed his thanks and then asked: "President Jiang, can you help me introduce President Li of Bank of China in the past two days?"

The heads of banks are often familiar with each other, but Lao Jiang and the heads of Bank of China are not familiar with each other. President Li came from ICBC, and the two of them have been colleagues for a long time.

This is also a major reason why Fang Zhuo targets Bank of China. Having a leader of Lao Jiang's status to introduce him will definitely get twice the result with half the effort.

"Old Li? What are you looking for him for?" Mr. Jiang was surprised.

"I was quite indignant when I heard that the Royal Bank of Scotland had a good partner." Fang Zhuo said, "The amount of funds raised for ICBC this time can almost replace Goldman Sachs, but since President Jiang still prefers Goldman Sachs as a strategic investment I want to see if there are any suitable opportunities with the overflow funds.”

Manager Jiang's brows furrowed when he heard this, and he was blabbering indignantly or not. He was not sure whether the funds would be overflowed or not, but Mr. Fang's appetite was really quite big.

From Allianz to American Express and then to Bank of China.

You haven't settled the matter with ICBC yet, and you're just looking at the other bank. You really can't even think about what you're going to do next.

He said slowly: "Mr. Fang, I have to remind you that if you continue to build an acquisition consortium with the same structure, it will be difficult to get approval."

It does not mean that the bank can sign a contract after negotiating with the institution. It also needs to be reviewed by the higher authorities. If Goldman Sachs + MIGA Fund cooperate, it will definitely attract more stringent approval.

"Yeah, what President Jiang said is true." Fang Zhuo also knew this and explained, "If Bank of China really has this intention, I am willing to write the lock-up period into the contract, and this will be the final investment that complies with the regulations. .”

According to the regulations of the China Securities Regulatory Commission, no more than two Chinese-funded banks of the same type may acquire shares.

For example, Temasek has taken 4.55% of the shares of Minsheng Bank and 5.1% of China Construction Bank. It also tried to continue to invest in Bank of China, but was clearly rejected.

But there are ways to avoid it. The Royal Bank of Scotland turned to Merrill Lynch and Lijiacheng Fund without even saying hello. If this form can pass the review, then it will not be wrong if Deutsche Bank is used as the cover and Goldman Sachs and MIGA are hidden behind the scenes. no.

President Jiang pondered for a long time, and finally said: "The situation of Bank of China is different from ours. It has signed a contract."

"The funds haven't been delivered yet. What's more, the source of funds for this delivery is different from what was agreed. The Royal Bank of Scotland itself has not done well, and there is still room for it at the moment." Fang Zhuo said, "That's why I want to ask President Jiang for a favor. .”

Governor Jiang thought about it and realized that a big appetite might not necessarily be a bad thing for Bank of China. This lock-up period can also promote the industry.

He was about to agree, but couldn't help but add another sentence: "Mr. Fang, even if the Royal Bank of Scotland's actions are open to question, poaching like this is still prone to trouble."

"I want to make money, but I also want peace and quiet. How can such a good thing happen? Goldman Sachs and Deutsche Bank are in front of me, and I just want to drink soup from Bank of China." Fang Zhuo smiled and thanked, "Thank you, President Jiang, for reminding me. Whether it is ICBC or Bank of China, as long as we can cooperate, I will do my best."

Having said this, President Jiang agreed. It was just a recommendation. It was Bank of China's decision whether cooperation was possible or not.

He didn't waste time and contacted his old friend that afternoon to talk about the matter.

On the other hand, Fang Zhuo also called Paulson. He didn't mention ICBC at all, but just invited him to visit the head of Bank of China.

Paulson was somewhat surprised. What he remembered was a sentence he said during the breakfast chat that day - why just focus on the ICBC family.

He immediately agreed and was willing to visit together.

After temporarily attracting the ICBC competitor, Fang Zhuo informed Zhang Hongli about the Bank of China matter.

Zhang Hongli became excited almost immediately and rushed to Mr. Fang's hotel.

As a result, when he arrived, he was told that Mr. Fang was having a meeting in the conference room.

Meeting? What meeting?

Our Deutsche Bank was not notified!

Zhang Hongli felt uneasy and worried that Fang was screening more collaborators. While waiting patiently, he called Hezhong and Washington to find out more.

Then, UPI and Washington were kept in the dark about the BOC news.

Zhang Hongli breathed a sigh of relief, but also did not disclose new opportunities.

At five o'clock in the afternoon, the meeting ended.

"Huh? Mr. Zhang, why are you here?" Fang Zhuo took the documents and walked out of the conference room and saw the uninvited guest.

"If I don't talk to Mr. Fang face to face, I won't feel at ease." Zhang Hongli replied solemnly.

Fang Zhuo frowned and whispered a few words to Jacky Dong, who was in charge of e-commerce logistics, and postponed the communication with him until the next day, before taking Zhang Hongli back to the suite.

"Mr. Fang, you are still in the mood to hold a meeting on Tesco at this time." Zhang Hongli took a look at the content of the afternoon meeting.

"This is an unexpected surprise for the bank. There is only more than a month left until November." Fang Zhuo said naturally, "If I'm not busy with Tesco, who will be?"

Zhang Hongli said, his feeling is that the cooperation with banks should be given priority now. Compared with this, the profits that Tesco can bring from this promotion will definitely not be as good as ICBC or even Bank of China.

Fang Zhuo glanced at Zhang Hongli and said: "I have communicated with President Jiang. ICBC will definitely increase the lock-up period for the shares. This will be made clear in future negotiations."

"If there is really a chance for negotiation with Bank of China, this will be reflected in the contract as sincerity."

"If ICBC and Bank of China can implement it, except for China Construction Bank, which will be listed next month, other banks may refer to this standard in their cooperation with foreign capital."

Zhang Hongli asked: "How long?"

"Three years." Fang Zhuo said affirmatively.

Zhang Hongli pondered, it's okay.

Fang Zhuo followed these words and continued: "This also means that even if this cooperation with the bank can be achieved, the money is locked here, so you have to work, and Tesco still has to do what you need to do. .”

Zhang Hongli knew that Mr. Fang heard what he meant, and laughed at himself: "This is the difference between me and Mr. Fang."

"No, our directions are different after all." Fang Zhuo is not conceited. Mr. Zang is focusing on this area as his own job, and the priority is definitely different.

"Mr. Fang, let me go to visit President Li tonight." Zhang Hongli volunteered, which was also the purpose of this trip.

Fang Zhuo refused lightly and said: "No, Paulson and I will see if we can talk first. Bank of China's cooperation projects are secondary. The most important thing is whether it is willing to take the reputational risk of breach of contract." .”

Even if Royal Bank of Scotland takes the lead, Bank of China may be criticized if it wants to find a new strategic partner.

However, there is no solution.

This cooperation could not be canceled by the Bank of China, but stopped by the China Securities Regulatory Commission. The reason is still that the third party Merrill Lynch and the Lijiacheng Foundation took advantage of the loopholes.

"What will the cooperation with Bank of China look like?" Zhang Hongli asked again.

He had asked once on the phone before and now again in person.

Fang Zhuo sighed: "It's not certain whether we can succeed or not. Just look at Paulson and he agreed in just a few words. You can learn from his manner."

"That's the head of Goldman Sachs. I can be the head of Deutsche Bank anytime, so I can do the same." Zhang Hongli said nonchalantly.

When Fang Zhuo heard this, he looked Zhang Hongli up and down and asked, "Can you have such an upward path in Deutsche Bank?"

If that's the case, it's not impossible to bring the dirty boss with you at night.

Zhang Hongli replied affirmatively: "No, it's basically over now."

Fang Zhuo gave up the idea.

Well, it is more convenient for two people to take the bus, but it is a bit crowded for three people.

That night, Fang Zhuo and Paulson quickly came to visit the head of Bank of China, Mr. Li.

Because of the weight of the middleman and the screening of ICBC, President Li did not ask much about combinations such as Goldman Sachs and MIGA Fund, but his words did not leave any room for maneuver.

"President Fang, Mr. Paulson, although there is indeed something dissatisfying about Royal Bank of Scotland this time, we have signed the contract."

"If you had come to me last month, I would have been willing to give it a try."

"To put it bluntly, if you were the partner who signed the contract, how would you feel if our Bank of China did this?"

"Although Merrill Lynch and Li Jiacheng Foundation were added to the list, they were unexpected institutions. However, to be honest, the best response for Bank of China now is to have good negotiations with them. After all, they are also It’s not that he’s not famous.”

President Li's attitude is quite firm.

This is no small matter. The contract was signed and the cooperation was announced. Suddenly, there was a U-turn. What did others think of Bank of China?

What do you think of yourself?

Paulson did not understand Chinese. Considering the secret nature of this visit, Mr. Fang also helped with the translation.

After listening to these words, he said seriously: "President Li, this operation of Royal Bank of Scotland is against convention. Moreover, I don't know the Lijiacheng Foundation. I know the style of Merrill Lynch."

"If Merrill Lynch was really sincere in cooperating with Bank of China, it wouldn't be like this."

"Once it gets the shares of your bank, it is likely to sell it again due to financial factors."

"Our Goldman Sachs and Mr. Fang's funds can be banned from selling for a certain period of time."

Fang Zhuo waited until Paulson finished and said, "President Li, I don't know much about Merrill Lynch, but I know the style of the Lijiacheng Foundation."

"I believe you also know that if Li Jiacheng came to the mainland to communicate, it would be easy, but now it is like this."

"His foundation came from profit, and it will inevitably end from profit."

"Such speculation will not help Bank of China's business and management at all."

"The fact that Bank of China only signed a contract with Royal Bank of Scotland also means that Lijiacheng Foundation and Merrill Lynch have no intention of helping Bank of China."

"We are different, ICBC is an example."

Fang Zhuo is very sincere.

President Li asked a question: "As far as I know, you and Goldman Sachs still seem to be in a competitive relationship, and ICBC's choice has not yet been determined."

Fang Zhuo and Paulson looked at each other and said almost simultaneously: "No, we have reached a cooperation."

Manager Li still shook his head, this time facing Mr. Fang: "Mr. Fang, since it is Lao Jiang who is speaking, let me tell you the truth. This matter is basically finalized. The leaders are watching, and I can't decide it alone. , it’s useless for you to come to me.”

"President Li, I have been discussing this matter with Paulson on the way here." Fang Zhuo was not depressed and responded with a response, "If you are willing, the huge uncertainty of Merrill Lynch may be proven to you by Goldman Sachs Look, it will also clear the way for Bank of China to re-elect.”

It is difficult to convince Bank of China with words alone. This is also the benefit of attracting Goldman Sachs. Paulson is sure to kill Merrill Lynch.

President Li looked at Mr. Fang, and then at Paulson. One was the richest man in the mainland, and the other was the head of Goldman Sachs. If the so-called "huge uncertainty" could be proven, the responsibility would be easily relieved.

He said vaguely: "There won't be much time."

You don’t have much time. If you want to poach Royal Bank of Scotland, Merrill Lynch, and Lijiacheng Fund, you have to work overtime.