Chapter 3074 Diversification

Lu Qi and Tang Binchen are both members of the board of directors.

After the meeting, they came together to talk to Zhou Buqi.

I think he went too far.

He shouldn't have been so ruthless to Yang Zhiyuan in the board of directors.

It's normal for Yang Zhiyuan to complain. After all, they sold Yahoo to Ziweixing International for more than 20 billion US dollars... Considering Yahoo's stock price at the time, this was reasonable. But more than two years have passed, and everything has changed.

Not to mention that Yahoo has successfully completed its transformation to mobile Internet under the leadership of Zheng Xiaoli.

Just looking at Yahoo's mobile business, the value can reach at least 50 billion US dollars!

If this is the change that Ziweixing International has brought to Yahoo, there is no need to be jealous, then the part of Yahoo's shares in hand is really too heart-wrenching. Investing in Alibaba was Yang Zhiyuan's desperate choice at the beginning, paying a huge price and bearing huge pressure.

What's the result?

Alibaba will be listed in less than a month, and it will bear fruit... Yang Zhiyuan, who planted the trees, took on everything, but the fruits were picked by Zhou Buqi.

The assets of Yahoo's current 10% stake alone are worth more than 20 billion US dollars!

But in fact, Yahoo should have 40% of the assets!

Because Ziweixing International was not listed at the beginning, its strength was limited, and it could not afford to buy Yahoo, and Alibaba and Yahoo had a repurchase agreement... So Boss Zhou simply united several forces and sold a large amount of Alibaba shares to the person acting in concert with Boss Ma in a leveraged way, using the method of "selling future assets to raise money".

Ziweixing International got the money by selling Yahoo's assets, and then turned around to buy Yahoo.

This is actually the capital operation method of the notorious leveraged buyout of junk bonds in the 1980s and 1990s. Carl Icahn is the best at this. Relying on this model, Carl Icahn even took over Marvel and appointed himself as the president of Marvel.

This is why Marvel later sold the copyrights of classic comic characters such as "X-Men", "Hulk", "Spider-Man" and "Fantastic Four".

Because this acquisition model is mainly based on the model of "selling future assets to acquire existing assets".

Carl Icahn used the future Marvel assets as collateral, borrowed from hedge funds, and then raised some money himself to buy Marvel. He became the president of Marvel. In this way, although he controlled Marvel, Marvel was heavily in debt.

He didn't care.

He wanted to divide Marvel's assets.

Later, people who love comics jumped out and couldn't bear him messing with Marvel, so they had to pay a high price and buy Marvel. Carl Icahn made a lot of money and left the market. He left behind the mess of Marvel, which was heavily in debt.

The new buyer of Marvel is not a rich man, and he doesn't have that much money. What should he do with the debt?

He can only sell part of the superhero copyright to repay the debt.

As a result, the copyrights of "X-Men" and "Fantastic Four" have not been returned yet.

Zhou Buqi, in conjunction with Carl Icahn and Boss Ma, used a similar strategy in the acquisition of Yahoo by Ziweixing International. Under a series of complex situations, he sold 20% of Alibaba shares semi-actively and semi-passively...

Alibaba bought a part of the 20% shares, and Boss Ma and his persons acting in concert bought a part. Among the persons acting in concert, Zhou Buqi was the biggest contributor, who took 10% of Alibaba's shares alone.

However, with the listing of Alibaba, the 20% of the shares held by Ziweixing International will be reduced to 10%.

Because the listing requires the issuance of additional shares, which dilutes 20%. In addition, according to the agreement between Alibaba and Yahoo, Yahoo must obtain 5% of Alibaba's shares for issuance... dilute one part, issue one part, and only 10% will be left.

Zhou Buqi's personal 10% of Alibaba shares will also be reduced to 8% with the dilution of the listing.

Even so, the remaining 10% of Ziweixing International and the remaining 8% of Zhou Buqi will be a shocking fortune. Alibaba has now grown into a giant, a super giant company.

All this was a huge blow to Yang Zhiyuan.

Everyone could understand him complaining at the board meeting. After all, all the advantages that Boss Zhou had taken were taken from him.

Unexpectedly, Boss Zhou didn't give him any face at all and directly fought back.

Lu Qi was a little worried, "In this case, I'm worried that he will resign."

"Resign?"

Zhou Buqi was not worried at all.

Lu Qi nodded, "Well, I am very sure that if we don't take some positive actions to retain him, he will resign as a director in the next few days."

Zhou Buqi glanced at him, "Do you think we should keep him?"

"Ah?"

Lu Qi was slightly startled.

He clearly felt that Boss Zhou had something to say, he didn't want to stay!

Zhou Buqi said: "Now the answer to the mystery is revealed. He suffered a big loss when he sold Yahoo to us for US$24.5 billion. Although the price of US$24.5 billion was quite high compared to Yahoo's market value at the time, It’s a premium of 10%, but human nature is like this. No one cares about the hard work in the past and will only focus on the current high-profile achievements. Looking at it now, Alibaba’s market value is only 200 billion US dollars, but what is the development of domestic e-commerce? Trend? Alibaba still has huge room for growth!”

Tang Binchen agreed, "Well, Alibaba's market value will get higher and higher! And as Alibaba's market value continues to rise, Yang Zhiyuan's choice to sell Yahoo to Ziweixing International will become increasingly wrong."

"That's the key." Zhou Buqi felt that he had to put out the fire in time. "Old Yang is a little bit weird... Of course, this is not directed at him. It would be the same for anyone in his position. If it were someone else, his mentality might have been there for a long time. Exploded. What we have to admit is that Yang Zhiyuan's current mentality is very unbalanced, and there are already some small flames. In order to avoid hearing some strange words in the board of directors in the future, it is best to put out the fire as soon as possible. "

Lu Qi took a deep breath and said, "Kick him out of the board of directors!"

Zhou Buqi said: "It's not like driving him out. If he is willing to leave, this is naturally the best. If he doesn't want to resign, at least give him a warning this time. Yahoo is no longer an independent company, it is Ziweixing International part of its assets. The board of directors should consider the interests of Ziweixing International, not the historical legacy of some other companies.”

Lu Qi said firmly: "He will resign."

Tang Binchen is a direct descendant of the direct line, and he has a clear distinction between himself and outsiders. He narrowed his eyes and said: "I think it is best for him to leave the board of directors. The integration of Yahoo is over, and strategic transformation and business transformation are in order. "We no longer need Yang Zhiyuan to come to the rescue and rely on him to maintain Yahoo's structural stability."

"Um."

Zhou Buqi also had such considerations.

It's time to kill the donkey.

Tang Binchen said: "Yang Zhiyuan's existence has no effect on the stability of Yahoo. On the contrary, he is a representative of Yahoo's old school, and his existence will block Yahoo's reform to a certain extent. This will have a negative impact on Zheng Xiaoli's future work. It will create constraints.”

"You are talking about the business level. In fact, there is a bigger level. I just wanted to tell you about this." Zhou Buqi has been thinking about this for a long time. "You don't know the current situation in the United States. It can be seen that Europe is even more extreme, they are becoming more and more left-leaning, and they are radically promoting diversification. We have to make arrangements in advance. If we really wait for the pressure of public opinion, we will be passive. There are too many Chinese faces on the board of directors.”

There are 11 directors in total, 5 of whom are Chinese, namely Zhou Buqi, Yang Zhiyuan, Lu Qi, Tang Binchen and Xu Liangjie.

This is really outrageous.

Anyone with a discerning eye can tell right away that this is not an American company at all, this is a Chinese company!

So blatant!

The current environmental situation in Europe and the United States is very severe, and there are also risks in U.S. policies, so we must seize the time to make adjustments.

Changyou's board of directors has been adjusted and four directors have been replaced.

Ziweixing International also needs to change.

Lu Qi can feel it best, "There is indeed such a need. I have received many letters from social institutions and community organizations, thinking that our board of directors structure is too single and too homogeneous, and needs to be more open and transparent."

Zhou Buqi looked at Tang Binchen and said, "I think it's enough to keep me and Lu Qi in the current board of directors. How about you quit as well?"

Tang Binchen smiled and said: "Okay, I'm still free!"

Zhou Buqi said: "Let Kurian take your place."

"Um?"

Tang Binchen raised his eyebrows.

Lu Qi's heart skipped a beat.

This is not adjusting directors, this is changing the "prince"!