Chapter 173: "The Great Drama" - Attacking the Jardine Consortium (Part I)

Since the opening of Hong Kong in 1841, British-funded consortia have been rooted in all aspects and walks of life throughout Hong Kong, and they have almost the pulse of Hong Kong's economy. From the right to issue notes to the financial industry, from housing to the real estate industry, from eating, drinking and entertainment to the service industry, the British-funded consortium has penetrated almost all the "meridian flesh and blood" in Hong Kong.

With the development of Hong Kong, an economic free port, countless Chinese-funded consortia have come to the fore and begun to challenge the old British-funded consortia.

A series of major moves, such as Li Jiacheng's acquisition of Hutchison & Co. and Bao Yugang's acquisition of Wheelock & Co., are all direct challenges to the old British forces by the Chinese-funded consortium.

Therefore, the Chinese-funded entrepreneurs in Hong Kong all have a tacit understanding -- their biggest opponents are not their own people, but the British-funded conglomerates that have always controlled the lifeline of Hong Kong's economy.

After all, they are both Chinese, with the same blood flowing in their bodies, and if there are any hatreds and contradictions to be resolved, behind closed doors, everyone is their own family - compatriots, and everyone can discuss anything.

As for the British-funded conglomerates and foreign forces, they will never treat you as their own, and even if they treat you as their own "person", they will only treat you as a "comprador" dog.

This is the reason why the "Boat King" did not interfere with Su Chenyu's acquisition of Standard Chartered Bank in the first place, otherwise, how can you think that the "Boat King" is such an easy person to talk to - really his old man is a smiling "old man next door".

From Li Jiacheng's takeover of Hutchison to the shocking entry of the "King of Ships" into Wheelock, two of the four major British-funded foreign banks have become Chinese-funded forces. However, this did not defeat the base camp of the British-funded forces from the root, and everyone knows that among all the British-funded foreign firms, Jardine Matheson is undoubtedly the leading brother among them, and it is a piece of fat that all Hong Kong Chinese consortia want to gnaw.

Only by defeating the Jardine Matheson consortium can it be regarded as a complete defeat of the old British-funded forces in Hong Kong -- let them know the complete rise of the Chinese-funded forces.

Back then, the "King of the Ship" Bao Yugang won the Wharf with the help of Li Jiacheng, which was a slap in the face of Jardine Matheson - but it was only a tragic victory. Subsequently, Li Jiacheng successfully entered Hutchison Whampoa, which can be regarded as slightly reversing the situation of British forces crushing Chinese forces in Hong Kong.

However, although big real estate developers like Li Jiacheng and Bao Yugang have repeatedly slapped the "British-funded forces" in the face, their wish has never been realized, and their most coveted piece of fat has never been eaten - that is, Jardine Matheson's Hongkong Land Company.

Hongkong Land has a large portfolio of high-end commercial buildings in the heart of Hong Kong's economy, the heart of Hong Kong's economy, in the banking district of Central, which is known as the "crown jewel" of Hong Kong real estate.

In the Hong Kong real estate industry, there is a saying that has been circulating for a long time, that is, only by controlling the land can it truly be called the "king of kings" in the real estate industry.

It's a pity that neither Li Jiacheng nor Bao Yugang, nor even other Chinese-funded consortia have succeeded in winning this "crown jewel".

The British are also shrewd enough, and after seeing the gradual strength of the Chinese-funded consortium, Jardine Matheson is afraid that these "Chinese-funded hungry wolves" will one day suddenly take action against the "fat" in their hands -- Hongkong Land.

Therefore, in 1980, Jardine Matheson and Hongkong Land began to control each other in a series of ways, so as to ensure that Jardine Matheson had control over Hongkong Land.

"Yizhi Mutual Control" can be regarded as preserving Hongkong Land, the crown jewel of Jardine Matheson, but then Hongkong Land's successive huge losses made Jardine Group miserable.

In the end, the overwhelmed Jardine Group lifted the "Yizhi Mutual Control" in 1986 after a series of actions. Eventually, after a spin-off and reorganization, Hongkong Land became a pure real estate company under the Jardine Matheson Group.

Now Jardine Matheson Group is tearing up with the Hong Kong securities regulatory authorities, very simply, Jardine Matheson wants to engage in specialization - apply for "listing exemption".

Just last May, in order to get Hong Kong's securities regulator to bow down, Jardine Matheson announced that it would use London as a secondary listing venue, followed by Sydney and Singapore. Not long ago, an executive director of Jardine Matheson Group revealed to the media that he was preparing to move the primary listing venue from Hong Kong to London, and used this to pressure and continue to apply for a "listing exemption" from the Hong Kong securities regulatory authority.

However, this time, Jardine Matheson Group miscalculated, and his "brain-dead behavior" did not force the Hong Kong side to comply, on the contrary, the Hong Kong authorities responded very strongly.

Among them, the legislator Zhang Jianquan of the Legislative Council directly replied: "If the Jardine Matheson Group has no confidence in 'one country, two systems', why not simply not do business in Hong Kong and not make money from Hong Kong people?"

There is no doubt that Su Chenyu feels that this kind of "willful" "self-harming behavior" of the Jardine Matheson Group cannot succeed at all - does Jardine Matheson think that Britain is still the empire on which the sun never sets?

Finally, if nothing else, Jardine Matheson will move its primary listing location to London next year after the Hong Kong authorities categorically rejected this "death request".

Su Chenyu doesn't care about these trivial things, he cares about the "crown jewel" of Hong Kong's real estate industry - Hongkong Land.

Yes, what Su Chenyu has to do is to turn over Jardine and take the land.

The majority of Hongkong Land's shares are in the hands of Jardine Matheson, a company listed in the Jardine Matheson Group, while the rest is scattered among HSBC and some wealthy Hong Kong tycoons.

So before Su Chenyu officially showed the butcher's knife to Hongkong Land, Standard Chartered Bank had already spent a huge price to take more than 20% of Hongkong Land's shares from HSBC.

As for the remaining shares scattered in the hands of the wealthy in Hong Kong, Su Chenyu is much more relieved, and the two tycoons "Boat King" and "Li Chaoren" naturally came forward to help him get these shares.

A few days ago, Su Chenyu invited these two to dinner just for this matter.

And this is a big drama that Su Chenyu wants to invite Li Ershao to watch - "overturn Jardine and take the land", but this big move may just be a small prologue to this big drama.

In fact, Bao Yugang and Li Jiacheng also have a lot of shares in the hands of Hongkong Land, which are the "things in the bag" that Su Chenyu fancies. The source of these shares is very dramatic - the two of them gave it up obediently after beating Jardine.

In that year, after the "Wharf War" with Jardine Group, Bao Yugang and Li Jiacheng quickly turned their rivalry with Hongkong Land and cooperated in the development of the Xingang Center property. As a result, Bao Yugang and Li Jiacheng both own a little stake in Hongkong Land, but these shares are simply pitiful.

Although the action rate of "Boat King" and "Li Superman" is very high, the next "bone to gnaw" Su Chenyu is still that "smelly and hard" thing - Jardine Matheson.

You must know that even if Su Chenyu obtained the shares in the hands of HSBC and other Hong Kong tycoons, it was only more than 4% of the shares, and it was still difficult to control Hongkong Land. So I went around in a big circle, and finally came back to square one - and I had to start with the Jardine Matheson strategy......