The Son of Finance of the Great Age

  Chapter 591 Introducing the King into the Urn (Part 1)

   "He showed up in Germany?"

When the news that Zhongshi appeared at Wolfgang Porsche's birthday party reached the other side of the ocean, it was in the afternoon. Soros was originally dozing off in his luxurious office, but when he heard the news, he instantly felt like As if a fierce tiger woke up from its laziness, its whole body was full of violent and manic aura.

   "And still attending Wolfgang Porsche's birthday party?" Soros frowned and muttered to himself, "What is this guy going to do? Could it be that he wants to acquire Porsche?"

  According to the operation mode and methods of hedge funds, they can be divided into event-driven hedge funds, merger and acquisition hedge funds, quantitative investment hedge funds and so on. Soros, as the most traditional group of hedge fund managers, believes in value investing, that is, discovering the true internal value of stocks, currencies or commodities for investment, and this investment method occupies half of the hedge fund industry.

But for some hedge funds, they do not follow the investment path of value investment. For example, the famous Carl Icahn is good at buying listed companies that are in financial crisis and are seriously undervalued. This kind of fund is called "barbarians at the gate" by Wall Street, and it is a hedge fund of reorganization and merger type.

   Of course, these investment methods are not absolute. In fact, every long-established hedge fund will get involved in other investment methods. It is only based on the famous works of the helmsman or the different investment styles that the market has different divisions.

When Daniel Johnson reported to Soros the news that Zhongshi attended Wolfgang Porsche's birthday party in Germany, Soros' first reaction was that Zhongshi might covet Porsche's assets and planned to acquire them Restructuring or selling, but the next moment he decisively denied this possibility. For a long time, this young and intimidating investment rookie has not carried out similar investment activities. Moreover, Porsche is not a listed company in the traditional sense. The Porsche family has an absolute controlling stake in this company. In any case, you will not sell your high-quality assets.

"Maybe it has something to do with something announced by the Porsche family at the birthday party!" Daniel Johnson looked slightly embarrassed. He never expected that his boss would react so strongly after hearing the news about Zhongshi, "Porsche The family announced that they will increase their stake in the Volkswagen Group from the current 30% to 50% in the future, taking an absolute controlling stake. They want to annex the Volkswagen Group, enter the low-end car market, and integrate the entire high-end, high-end and low-end markets. I think In this case, Zhong Shi appears there, is he seeking some kind of cooperation with the Porsche family?"

  Due to focusing on the bank bond market, Daniel Johnson often focuses on the large banks in various countries. Just ten minutes ago, a phone call from Frankfurt, Germany told him everything that happened there, and originally wanted him to pay attention to the capital changes of several German banks. But he keenly sensed from a few words that this news might be useful to his boss, so he immediately rushed to report to Soros.

  Because the news was announced in public, news about the Porsche family's absolute control of the Volkswagen Group soon appeared in various financial terminals, which also indirectly confirmed the authenticity of what Daniel Johnson said.

"Cooperation?" Soros' eyes widened all of a sudden, and he said angrily, "What kind of cooperation? It's nothing more than the fact that the Porsche family took a fancy to the cash on hand of the other party and wanted to raise financing in some way. Besides, Since they dared to declare their absolute control of the Volkswagen Group in a fair and aboveboard manner, they had already prepared the means. Maybe they had already acquired a lot of Volkswagen shares in private, and they would wait for the news to be announced before transferring them. At this time Join in the fun, I'm afraid it's too late."

"Boss, maybe you don't know much about the holdings of the Volkswagen Group!" Daniel Johnson disagreed with this. Before coming, he had a rough understanding of the general situation, and he explained calmly, "Although Porsche has controlled 30% of Volkswagen Group's shares before, Volkswagen Group has not let it go, but has taken multiple measures to resist the other party's acquisition, including legal and seeking external assistance."

"More importantly, the state government of Lower Saxony in Germany owns 20% of the shares of the Volkswagen Group. There is no news of this part of the shares being transferred or even circulated. The most fatal thing is that according to the relevant laws and the decision of the board of directors, The state government of Lower Saxony, which owns this part of the shares, has a veto power over decisions made by the Volkswagen Group. This means that even if Porsche AG wants to obtain an absolute controlling position, it must obtain the consent of the state government of Lower Saxony. Of course, there are other One possibility is that Porsche can obtain more than 80% of the controlling stake in the Volkswagen Group, so the veto of Lower Saxony will be automatically invalidated.”

"Compared to the position of the Volkswagen Group in Lower Saxony and the employment situation, it is impossible for the state government to agree to sell this part of the equity to the Porsche family. Because in the subsequent statement, the Porsche family strongly stated that, After the acquisition of the Volkswagen Group, they will carry out a major restructuring of the Volkswagen Group, even if there is a "shock". This statement will definitely anger the local government, so so far, although they have announced the acquisition of Volkswagen Group shares, But there will be a wonderful and fierce offensive and defensive battle in the future.”

"So what do you mean?" Soros frowned even tighter. He really didn't expect the equity distribution behind it to be so complicated, even the government was involved. "The Porsche family still needs funds, and the gap is very large. Big?"

   Thanks to the book friend Canoe 1998 for voting for the monthly ticket! ps: Time is tight and it is too late to finish writing, I will make up the rest tomorrow~

  (end of this chapter)