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once Upon a time
When the stock market was most prosperous in 1999, Hong Kong Telecom occupied 97% of the market share of the Hong Kong telecommunications market, with a net asset value of up to 380 billion Hong Kong dollars and a stable cash flow.
Great East Telegraph and Telegraph chose this time to make a move. It is extremely wise to sell Hong Kong Telecom, taking advantage of the high value in exchange for much-needed cash flow.
The abacus is not bad
This transaction is worth 35 billion U.S. dollars, which is an unprecedented big cake in Hong Kong.
?Because the Dadong Telegraph Bureau has strict admission requirements, not many are eligible to share.
At that time, there were two main competitors. One was SingTel, which was dominated by the Sing Tao Lee family and was once the largest mobile phone service provider in the world.
The second one is Yingke Digital Company, which is backed by Li Chaoren and is preparing to swallow elephants.
Through a series of dazzling asset operations, Yingke Digital Company boss Li Zekai had the last laugh.
?Using US$13 billion plus company stock to acquire the behemoth Hong Kong Telecom, the total value of the merger and acquisition is US$35.5 billion, forming the current Yingke Telecom Company.
Completed the classic case of snake swallowing an elephant. The market value of Yingke Telecom once reached 500 billion Hong Kong dollars at the highest. Li Zekai became famous in the first battle and won the title of "Little Superman".
Who would have thought?
The Internet high-tech bubble burst, turning the former prosperity into ashes.
The Hang Seng Index plummeted from 14,000 points to more than 8,000 points, and the concept of Internet high-tech stocks was all brought back to its original shape.
Affected by the irrational and frantic decline of stocks on the Stock Exchange, the market value of Yingke Telecom Co., Ltd. plummeted all the way to a low of 26 billion Hong Kong dollars, which made the Wang consortium feel cheap.
The Internet high-tech bubble burst at an inopportune time, and "Little Superman" Li Zekai must swallow this cup of bitter wine at this moment.
?Regardless of one's own ability to carry out heavy debt acquisitions, more than 300 billion Hong Kong dollars of M&A funds all come from capital operations, which makes the company's operation risk greatly magnified when the financial bubble bursts.
?In view of the fact that Yingke Telecom has a heavy debt of more than 14 billion US dollars, it is unable to repay the loan on time.
Under Wang Yaocheng's instruction, the creditors headed by HSBC rejected the company's debt restructuring plan.
It is normal for banks to push the highs and step down the lows, and it is almost a miracle on earth to send charcoal in a timely manner.
The move
Cut off the source of liquidity of Yingke Telecommunications Company, of which 3 billion US dollars of loans were overdue, pushing it into the abyss of eternal doom, and the last straw that overwhelmed the camel.
In the Hong Kong Stock Exchange, which is full of mourning, there is already too much bad news.
In fact, Li Chaoren is capable of raising 3 billion U.S. dollars to renew the life of Hong Kong Yingke Telecommunications Company.
It's a pity that he didn't make a move.
?Because HSBC's US$6 billion loan due in Hong Kong Yingke Telecom's creditor's rights will expire at the end of the year. Li Chaoren wonders if the market will pick up by then?
Li Chaoren didn't have a company that could save the world, nor could he save his son, so he really didn't dare to stud.
The beginning of 2001
The United States is in deep economic recession, and the global economy is in a bleak state, but the Chinese mainland is the only one that stands out.
Under such circumstances, Li Chaoren really didn't dare to gamble. If he made a wrong bet, he would lose everything and drag the entire Li consortium into the abyss of debt.
Seeing an opportunity
? HSBC, which led the loan at the beginning, made a counterattack and completely crippled the Li Chaoren family and included the high-quality Yingke Telecom Company in its pocket.
Although the difficulty of Yingke Telecom Company is only temporary, it cannot pass the current hurdle, and the only end result is bankruptcy and liquidation.
The free market competition in the commercial society is to rely on capital to speak, without warmth and mercy.
in the office
Listening to Du Bo's detailed report, Wang Yaocheng showed a smile on his face. Now that the controlling stake in Yingke Telecom Company has fallen into his own hands, it is a boiled duck that can no longer escape.
Although Hutchison Whampoa did not give up and refused to accept the judgment of the Hong Kong Supreme Court and continued to appeal to the Hong Kong Court of Final Appeal, this did not affect the judgment of the Hong Kong Supreme Court.
The judgment of the Supreme Court is legally valid and must be implemented.
Li Chaoren's idea is very simple;
?It is to postpone the execution of the judgment through legal proceedings, to wait for changes, to wait for the market to recover, and there is still a lot to do.Although I have experienced for more than ten years, after all, it is a defect in the womb, and there are many shortcomings in intelligence and ability.
Compared with the secretarial elite who graduated from world famous schools in the secretariat, they are much worse.
But no way, who made Wang Yaocheng trust them!
Things in the world are so unfair.
Chen Shi's Finance and Accounting Audit Division has gathered elites from world-renowned accounting firms, many senior international accountants, all of whom are outstanding, and there is no problem at all as the audit team leader.
But if you want to stand out in the accounting and audit department, ability alone is useless.
It must also be fully trusted by Wang Yaocheng. In his past and present lives, Chen Shi's unpretentious work has proved himself.
At this point, Chen Shi is an irreplaceable choice, and no one else can take on this role.
Therefore, with the expansion of the consortium, Wang Yaocheng still feels that there is a shortage of major generals, and there are not many suitable talents under his command. This can be regarded as a happy trouble. (Remember the site URL: www.hlnovel.com - Didn't finish reading? Add this book to your favoritesI'm a member and bookmarked this chapterCopy the address of this book and recommend it to your friends for pointsChapter error? Click here to report
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