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Chapter 625 The Thunder Blow from the Other Side of the Pacific Ocean

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    four days later

    Vice Chairman Huo Jiaguang, who flew back from the United States in an emergency, presided over the formal merger negotiations with aig. Wang Yaocheng irresponsibly let go again, and pushed all the specific negotiation work to Vice Chairman Huo Jiaguang.

    ?Professional things must be done by professionals. In terms of corporate mergers and acquisitions, Vice Chairman Huo Jiaguang has rich experience that others cannot match.

    Wang Yaocheng only needs them to walk according to the framework he set in advance, who will have the patience to do it with lip service?

    As the saying goes; good things come in pairs.

    Rio Tinto didn't support it for long, and soon came to ask for it.

    With the gradual ferment of the subprime mortgage crisis, the dark clouds over the world economy are getting thicker and thicker. In this hot July, a bleak wind blows, and the financial magazines report all bad news.

    Among them, the ups and downs are self-knowledge.

    Due to the intensifying financial crisis, BHP Billiton officially gave up its $145 billion plan to acquire Rio Tinto, but Rio Tinto's crisis has not been resolved, because at the end of July, $28 billion of debts were due.

    ?After searching the entire world market, no one is willing to lend to Rio Tinto. They have been busy for more than a month and only secured US$3.8 billion in financing.

    And on September 16, Rio Tinto will have an 11 billion US dollar loan due.

    Negotiations on loan extensions were rejected by the banks without exception, and they all demanded repayment of principal and interest on schedule to supplement bank liquidity.

    At this time, Rio Tinto experienced the pain of large-scale mergers and acquisitions, and spent all the cash flow in its hands before the financial turmoil hit. Now it is not easy to borrow from others!

    Rio Tinto, which is in trouble, is facing liability for breach of contract, and its stock price has plummeted by 3,000 feet. Based on the calculation of the 9% stake purchased by Chinalco for US$14 billion at the beginning of the year, the current loss has reached 70%.

    With such a huge loss, Chinalco felt pressured when the news spread to China.

    With regard to Rio Tinto's request for continued financing of US$19.5 billion, it hesitated again and again under weighing, and it was too late to make a decision.

    The international financial situation is getting worse and worse, and all the bad news that reaches my ears.

    In just over half a year, 11 large and medium-sized banks in North America have closed down, as well as dozens of large financial institutions operating subprime loans.

    ? Multinational banks as far away as Europe did not escape. Deutsche Bank, UBS, Barclays, Royal Bank of Scotland and Banco de Madrid all suffered large losses, trembling under the cloud of subprime mortgages.

    Even if these multinational financial institutions are like this, let alone small and medium-sized banks, they will die if they touch them, and they will be injured if they are rubbed.

    Borrowing money for financing?

    Borrow your sister!

    At this time, I can see the importance of cash being king. The old gods of HSBC are guarding their own vaults, picking and choosing bankrupt banks all over Europe and the United States. So far, they have not made a move to acquire a single one.

    HSBC is like a demanding grocery shopping lady, who is dissatisfied with picking and choosing bankrupt bank assets. There are too many choices in the messy market, spoiling his appetite.

    In fact, HSBC is really wronged.

    It was firmly held down by Wang Yaocheng. Before the aig project came to light, no mergers and acquisitions were allowed. This also included all consortium companies, and no one was allowed to act rashly.

    According to the past temperament of HSBC Bank, there are so many cheap and impressive bank assets, and there is no boss to suppress them, and they rushed up like an excited little Teddy.

    Wang Yaocheng cannot allow any mergers and acquisitions to interfere with the aig project. This is the most important part of the consortium's future territory and ranks first among the priorities of mergers and acquisitions.

    No one in the world's financial circles is stupid. Everyone knows that there is an old landlord and wealthy boss king in Hong Kong.

    ? Roughly estimated, assets exceeded three trillion US dollars.

    Requests for shareholding, merger negotiations, financial assistance, and acquisitions came in like a snowflake, almost burying the busy business elites in the Secretariat.

    UBS and Rio Tinto's negotiation requests were all sent over, and Wang Yaocheng held them all in place, waiting for the aig project to come to light, which shows how much he attaches importance to it.

    ? If you are in a hurry, you can't

    Vice Chairman Huo Jiaguang and aig related negotiating team conducted a week, because of huge differences in terms of rescue funds and shareholding ratio, the teams of both sides made extremely difficult progress and fell into a predicament of stagnation.last chance

    Unfortunately, in view of the current serious situation, there are too many companies in need of assistance, and your request cannot be considered for the time being.

    Holding the microphone in his hand, Chairman Douglas was already trembling violently, and asked with a touch of luck; "Sohow long will this be for now?"

    There was a slight pause on the microphone, and a desperate answer came; "Maybe when the financial crisis eases a bit and the government has enough power, but it's best not to have too much hope, because the possibility of this is less than one in ten thousand,  I'm sorry, Mr. Douglas, but you'd better seek realistic help."

    After speaking, he hung up the phone and extinguished Mr. Douglas' last hope.

    No one knows how he spent this long night.

    The next day, the negotiating team was shocked when they saw Mr. Douglas, the chairman of the board, in the lobby of the Peninsula Hotel. This gray-haired stubborn old man had white hair overnight and his figure became rickety. He seemed to have aged 20 years in an instant.

    A thunderous blow from the other side of the Pacific Ocean completely destroyed this old man who had been up and down in business for decades, and his confidence and spiritual support completely collapsed.  (Remember the site URL: www.hlnovel.com
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