Chapter 334: General Electric Company of Great Britain
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"Of course, although infrastructure is difficult to make a profit in the short term, it is a good project for long-term investment, and I am quite interested in some infrastructure projects. β
Wei Xiong's answer made Allen?? Alexander was somewhat surprised.
Because the project discussed by the British Ministry of Commerce and Merriam-Webster Investment did not include infrastructure, he mentioned it at this time, and it was just a trial.
I didn't expect Wei Xiong's answer to be so dry.
Perhaps he should quickly gather people and talk about what infrastructure projects need Wei Xiong's investment.
In the eyes of any businessman, infrastructure is not the best investment.
Because the investment in infrastructure is large, the return is slow, for example, if you invest in a highway, it will take one or two decades to pay for yourself. It's still fast.
But for Weixiong, that's not a problem.
He has enough money to make long-term investments without any burden. And in exchange for concessions from the British government on other investments.
Allan?? Alexander dropped Wei Xiong off at the hotel and left.
In the room, Wei Xiong took off his outer tΓ o, helped Chen Hong tidy up his hair that was a little messy by the wind, and said slightly: "Should it be colder than Hong Kong?"
"It's quite cold, it looks like it's snowing. β
Chen Hong was very impressed by Wei Xiong's considerate movements, and his smile was sweet.
"It's Christmas in a few days, and of course it's going to snow. I'm going to the Prime Minister's dinner in the evening, so I'm not going to eat with you. β
"After dinner, go out with Sister Qing, you have this card. β
"You can buy whatever you want. β
"No, I have my own money. Seeing the bank card in Wei Xiong's hand, Chen Hong instinctively shook her head and refused, she was not used to using men's money.
"Take it, forget what I told you last time. β
"Men make money to spend on their own women. Wei Xiong stuffed the bank card into Chen Hong's hand and said with a doting face.
"Remember to bring bodyguards when you go out. β
"Well, got it. β
β¦β¦
In a semi-open private room in the restaurant on the second floor of the Connaught Hotel.
Wei Xiong saw the famous Iron Lady, and in his memory, Margaret Thatcher was the only female prime minister in British history.
He is also the second-longest serving prime minister.
During his tenure, Britain became one of the world's most famous politicians, as a result of the profound and wide-ranging changes in the economic, social and cultural landscape of the United Kingdom.
It doesn't matter if the positions are opposite or the same.
Wei Xiong still has a respect for Margaret Thatcher: "It's a pleasure to meet you, Margaret Thatcher. β
"I'm glad to see you too, please take a seat. β
The two hands parted with a slight shake, and then Margaret Thatcher gestured to the chair opposite her, a faint smile on her slightly aged face.
Looks more like a kind old man than a tough politician.
The two sat across a table more than two meters long.
In less than two minutes, two exquisite Western dishes were served by the service staff.
After the service member left, Margaret Thatcher said slightly: "It is hard to imagine that Mr. XiΓ ng Wei has achieved so much at such a young age. β
"Being young is not always a good thing. β
"The precipitation of time can make a person more intelligent, and perhaps time will also leave traces of time on people. β
But the charm of personality given by the vicissitudes of evolution is also not something that young people can have. β
Wei Xiong's philosophical words made the smile on Margaret Thatcher's face even stronger.
"Success is not accidental, you are the most powerful and incredible young man I have ever seen in my life, maybe your precipitation is not enough. β
"But sometimes God's heaven is more terrible than time. β
Wei Xiong was tempted to say that I don't believe in God, but fortunately he wasn't stupid enough to do this, and it was a private and ordinary banquet.
But the person sitting in front of him was the famous 'Iron Lady' Margaret Thatcher.
Known for being tough, it's better to deal with it carefully.
After chatting off-topic for a while, Margaret Thatcher finally got to the point of today: "I heard that Mr. Wei is quite interested in infrastructure projects in the United Kingdom?"
"It's a little interested. β
"For example, the No. 8 Underground project in London, which is being planned, I know that the project is actually on a standstill due to financial constraints. β
"There's also Manchester's grid renewal project. β
"These are all projects that I have planned. β
"Of course, these are the projects that have been identified later, and the projects that have been identified so far are the acquisition of Rolls-Royce, Jaguar and Louvre, these three car companies. β
"But I'm more interested in General Electric. β
"General Electric?" said Thatcher's brow furrowed slightly.
"That's right. β
Wei Xiong nodded slightly.
In his original plan, the most wanted acquisitions were British Aerospace and Rolls-Royce Engines (also known as Rolls-Royce Engines).
But British Aerospace has been completely privatized already in 85 years.
Rolls-Royce Engine was also acquired by Eaton in the United States after splitting off from Rolls-Royce Motor Cars in the late 70s.
So it's simply impossible for him to want to buy these two companies.
But General Electric UK is different.
Founded in 1886 as General Electric Equipment Company, General Electric Company of the United Kingdom is a wholesaler engaged in the sale of electrical products.
In 1888, it acquired a factory that produced electric huΓ and changed its name to General Electric.
The main business is the production of various types of light bulbs and light switches.
With the popularity of electrical products, the company has grown and its operations have spread all over the world.
During World War II, General Electric became a major supplier of military electrical products, offering products such as radar cavity magnetrons,
Lighting equipment and communication equipment, etc.
In 1961, General Electric acquired the Radio United Industries.
In 1967, United Electric Industries was acquired.
In 1968 it merged with the British Electric Company, which in 1946 acquired the Marconi Wireless Telegraph and Signal Company.
In 1977, the British General Electric Company was nationalized by the Labour government.
Also nationalised at the same time was the British Aerospace Group, which was formed by the merger of British Aircraft, Hawker Siddeley and Scottish Airlines.
However, British Aerospace was fully privatized in 1985.
And the British company General Electric, as far as Wei Xiong knows, is currently planning to implement a privatization.
"General Electric is the most powerful electrical company in the UK. β
"What it means for the UK, I'm sure Mr. Wei should be well aware that it will be difficult for me to convince Parliament to approve this takeover. β
Wei Xiong smiled slightly.
"Since Madame came to power, she has vigorously promoted the privatization of state-owned assets, requiring all walks of life to be open to private enterprises and achieve free competition. β
"I'm curious, could it be that the whole of the UK does not apply this decree to General Electric?"
"Or is it because I'm from Hong Kong that there are more artificial obstacles?"
Thatcher's sharp rhetorical question was difficult for Margaret Thatcher to answer, and her decree would certainly apply to businesses all over the UK, depending on who was involved.
If it's British, it's no problem.
If it is people from other European and American countries, it is not a big problem. However, if it is a person from a country other than Europe or the United States, it needs to be carefully reviewed.
What's more, this person is still from Hong Kong.
As Wei Xiong once cursed, the British said that Hong Kong people are also subjects of the British Empire, and Her Majesty the Queen treats them equally.
But in fact, they still treat Hong Kong people as outsiders.
Especially now that it has been determined that Hong Kong will return to China, the National Congress, and the mainland, the British are naturally more wary of Hong Kong people.
Obviously, none of this can be said.
"Hong Kongers are also the subjects of Her Majesty's Majesty, and the reason why there is an obstacle is because the British General Electric Company has designed the British national defense security. β
"You know that everything that comes to national defense is very sensitive. β
"British Aerospace is also involved in defense, why there is no such question, even Rolls-Royce Engines can be sold to the Americans. β
"This has to make me doubt the attitude of the British government towards Hong Kongers. β
Wei Xiong has already made his words completely clear.
He believed that Margaret Thatcher's influence on Parliament, and that if he could convince Margaret Thatcher, there would be much less obstacle to getting Parliament to pass.
Margaret Thatcher fell into deep thought.
She was considering the feasibility of selling General Electric to Wei Xiong and the danger it might bring to the UK.
At this time, Wei Xiong said again:
"If Madame agrees and eventually passes in Parliament, the London Underground Line 8 and Manchester's grid renewal plan will be fully invested by me. β
"In addition, my Standard Chartered bank can provide a $10 billion low-interest loan to the UK government. β
Hearing this, Mrs. Thatcher's eyes lit up.
Especially the last one.
If Standard Chartered can really provide huge low-interest loans, then many of the problems she currently faces can be solved.
Of course, it's not that there are no banking institutions willing to lend money to the British government.
Rather, she had to take the interest test.
At present, the annual interest rate of banks is generally above 6%, and if the loan is 10 billion US dollars, the loan for five years will be 3 or 4 billion US dollars.
This will obviously increase the financial burden.
As for the issuance of government bonds, the interest required to be paid is similar.
β¦β¦
The dinner lasted more than an hour.
When they walked out of the hotel, Weixiong and Margaret Thatcher had smiles on their faces, and a large number of reporters who had been waiting at the door of the hotel immediately rushed up.
Margaret Thatcher stood on the steps in front of the door.
Wei XiΓ o said to the reporter who was blocked by the security personnel: "At the dinner just now, I had a very pleasant and fruitful conversation with Mr. Wei. β
"We will have to implement these results one by one in the coming days. β
"I'm going to have a press conference in due course, and I hope you can be patient until then. β
Thatcher said so.
Wei Xiong naturally didn't say anything more, and then got in the car and left separately with Margaret Thatcher. When I got back to the hotel, I found that the room was empty.
Cui Muqing didn't care.
I guess I haven't come back from going out shopping.
β¦β¦
In the next two days, Gu Guofu, as Wei Xiong's representative, and Margaret Thatcher's representative held specific consultations on the oral agreement reached at the dinner.
In the end, 7 agreements were reached:
First, Weixiong wholly acquired Les-Royce Motor Company, Jaguar Automobile Company and Luofu Automobile Company for $217 million, $920 million and $480 million, respectively.
The three car companies will be restructured and merged into the new Jaguar Group.
The company will invest USD 300 million in the research and development of next-generation vehicles.
Second: Wei Xiong wholly acquired British Power Grid Corporation from the British government for $724 million. In the next three years,
British Power Grid will upgrade Manchester's power grid.
Third, Weixiong invested 2.8 billion US dollars to build Line 8 of the London Underground, with a contract period of 35 years, and Line 8 was nationalized after 35 years.
It includes a 5-year construction period.
In other words, regardless of whether Wei Xiong's investment can be recouped after 35 years, this Metro Line 8 will be owned by the British government.
Fourth, Standard Chartered will provide a $20 billion loan to the UK government.
The term is 5 years and the interest rate is 2.2% per annum.
Originally, Wei Xiong said 10 billion, but during the negotiations, the British government felt that it was too little, so it directly increased it to 20 billion.
The annual interest rate of 2.2% is almost one-third of that of other banks.
Fifth, Weixiong will acquire a 65.8% stake in General Electric for $4.05 billion.
The above five agreements, except for the first one, have already been determined.
The second, third, and fourth items will not be formally determined until the fifth item is approved by the British Parliament, which is equivalent to an exchange of interests between the two sides.
It is worth mentioning the currency issues when the loan is paid and repaid.
According to the British government's intentions, it was hoped that Wei Xiong would lend to Britain the pound sterling instead of the dollar, but Wei Xiong insisted on using the dollar to pay the loan.
This is because the US dollar is an international currency that is used more widely and frequently than the British pound.
And the pound will continue to fall against the dollar in the coming years, and he doesn't want to let his money evaporate.
After many fruitless negotiations, the British government finally had no choice but to agree.
The list was first published in The Times.
&nbsbsbsbs that project by project and number in billions, countless people sighed that Wei Xiong almost bought the entire United Kingdom at the same time,
is also lamenting that Wei Xiong is really rich.
In particular, he lent the British government $20 billion in one go.
This immediately aroused people's interest in discussing how much money Wei Xiong had.
Later in the list, the editor of The Times made this joke: "Maybe Wei Xiong has disdained to be the richest man in the world." β
"Her Majesty the Queen should crown him the crown of the richest man in the universe. β
Not only the UK, but the whole world media went crazy.
If the contents of this list are true, plus the 20 billion loans, Wu Yi will be the most dΓ personal investment case of this century.
The three major automobile companies resumed production, the subway started, and the power grid was renewed.
These three projects alone will provide tens of thousands of jobs in the UK, which will allow the UK economy to emerge from decadence more quickly.
Not to mention how much trouble the British government will solve with the almost empty $20 billion borrowed.
Countless reporters blocked the outside of the hotel where Wei Xiong was staying.
They were desperate to get more information from Wei Xiong's mouth or from the mouths of those around him.
And the officials of Thatcher's cabinet have also become the opponents of the journalists.
As more and more information is revealed, the contents of the list are confirmed one by one.
On the front page of its latest issue, the French newspaper Le Monde published a large profile bust of Wei Xiong, accompanied by the following headline:
The savior of Britain!
"The UK economy was hit hard by the 'Black Monday' crash, with businesses closing, workers losing their jobs, and benefits falling ......"
"Bad luck seemed to envelop the whole of Britain in an instant. β
"However, at this very time, God has sent a savior to Britain, and a cash investment of more than $9 billion will be a super shot in the arm. β
"It will definitely rejuvenate the British economy......"
The French newspaper Le Monde is not without purpose.
Because on the day the list of projects was published in The Times, the London stock market soared across the board, and many stocks rose to the limit.
This is the first time since the crash that there has been a stock price limit.
So many people had renewed their faith in the British economy, and Wei Xiong's prestige in Britain reached its peak, and in the eyes of all Britons he was sent by God to save Britain.
However, not everyone thinks this way.
When the British government submitted the agreement to Parliament, it encountered considerable obstacles, especially against General Electric.
Some members of parliament are firmly opposed.
Their reasons are twofold: first, Wei Xiong is a native of Hong Kong, and second, the British General Electric Company is concerned about the security of Britain's national defense construction.
But with media coverage.
and the stock market rallied on the back of media coverage.
The British government is already in a difficult situation, and if Parliament rejects Weixiong's takeover plan, there will be no way to invest in the construction of the subway and the upgrading of the power grid.
A $20 billion low-interest loan is a no-brainer.
At that time, it will inevitably attract the wrath of many Britons.
The stock market could also plunge again on this unfavorable news. Of course, it is not without media concerns about the acquisition of General Electric by Wei Xiong.
But in the current economic situation.
In addition, nominally, Wei Xiong is still British.
So these voices of doubt were quickly drowned out in praise of Wei Xiong.
After two rounds of closed-door debates.
On 24 December, the lower house of parliament voted in favor of 487 votes, 121 against and 32 abstentions.
And in the midst of a heated debate in the British Parliament.
Wei Xiong has left London and is coming to the Carcartel estate in Gloucestershire.
Calcat Estate is known as the 'Pride of British Hotels'.
The estate dates back to the 14th century and looks very old though.
But the hotel offers all the usual facilities: gym, tennis courts, indoor/outdoor swimming pools, etc. and has a library.
The historic Calkat Estate is also home to the Carkat Hot Springs.
The spa has 700 treatment rooms.
Guests are offered a variety of traditional and modern treatments. There is also a nursery, a children's entertainment plaza and a cinema on site.
Provided for passengers with children.
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