When Zhong Shi and Jiang Shan walked into the VIP lounge, they found Wolfgang. Porsche and his number one man, Weidekin, are waiting here. Wolfgang sat on the sofa chair, as steady as Mount Tai, with a calm and relaxed face. As Porsche's chief operating officer, Wei Dejin paced back and forth, restless.

"Mr. Zhong, you're here!"

Seeing Zhong Shi appear, Wei Dejin hurriedly greeted him, holding Zhong Shi's hand tightly with both hands, "We are in big trouble!" He said with a sad face.

"Rest assured, everything is under control!"

Wolfgang, chairman of Porsche, was not in a hurry, and after greeting Zhong Shi, he said calmly, "Mr. Zhong promised us, and he will naturally fulfill it." Wendelin, don't be impatient, wait for Mr. Zhong to elaborate. ”

"I'm sorry, I'm a little anxious." Wei Dejin nodded apologetically to Zhong Shi, "In the past few months, all the credit authorization we have obtained has been spent on acquiring Volkswagen shares, but their stock prices have risen too fast and have far exceeded our expectations. ”

At the beginning of Porsche's move in '06, the Volkswagen Group's share price fluctuated between 70 and 80 euros per share, but after the Porsche family announced the acquisition of the Volkswagen Group, Volkswagen's share price soon soared to more than 200 euros per share, which is almost three times the previous share price. Porsche's acquisition costs have risen dramatically, and despite the fact that they have borrowed up to 12 billion euros from banks and their own capital, they have only been able to buy about 50% of the shares, if the price remains at current levels.

That's why Porsche AG stalled after acquiring a 42.6 percent stake in Volkswagen, lacking in capital.

"My friend, I came here this time to help you accomplish the purpose of the acquisition."

Zhong Shi smiled slightly and motioned for Wei Dejin to sit down. Then he took a document from Jiang Shan's hand, "Two of you, please take a look, what is this?" ”

"Option agreement?"

Wei Dejin glanced at Zhong Shi suspiciously, took the document and looked at it, "Volkswagen Group's option agreement, what's the use of this?" ”

For people who build supercars. The financial markets were quite new to them, and although in the intervening months, Kaminhamun Brothers' financial advisors had tried to educate as much as possible among Porsche's top management. Porsche's top management, including Porsche, is still ignorant of these complex terms.

Wolfgang. Porsche was also confused, but he knew very well that Zhong Shi would not be untargeted, so he quietly waited for Zhong Shi's next step.

"To be precise, this is a Volkswagen Group bullish options agreement!"

After receiving Zhong Shi's signal, Jiang Shan cleared his throat and explained. "To put it simply, these documents are the evidence of our acquisition of the shares of the Volkswagen Group. As long as we pay cash at the specified price within the time specified in this document, we will be able to buy the shares of the Volkswagen Group. ”

"What?"

This time it was not only Weidkin, but even Wolfgang. Porsche was also shocked. The two of them looked down at the document in their hands again, and their faces had changed dramatically.

Joy, surprise, bewilderment, and puzzlement, all kinds of complicated expressions emerged from their faces one after another. In the end, the two looked at each other tacitly. Turning their eyes to Zhong Shi again, they still had a lot of questions in their minds.

"Mr. Chung. When do these options expire? ”

Wei Dejin was the first to ask, "If you don't buy the shares of Volkswagen Group within the specified time, will these options be invalidated?" ”

"These options are American-style options that expire in June next year on the agreement." Zhong Shi said lightly, "But because it is an American-style option, you can exercise the right to acquire at any time." But it doesn't matter if you don't exercise your rights. When the time comes, it will be delivered in cash. ”

"So what is the strike price of these options?" Wolfgang asks a crucial question.

After Zhong Shi answered Wei Dejin's question, the two discussed quietly for a while, feeling that this was really a good thing, and the only thing left was the execution price.

"I bought it at different times, so it's different in terms of price." Zhong Shi lowered his head. "In general, the strike price of these options ranges from 120 euros to 180 euros, because the volatility of the Volkswagen Group's share price makes the strike price of these options fluctuate greatly. But overall, these execution prices are much cheaper than what is currently in the market. ”

"God, this is simply the gospel!"

Overjoyed, Wei Dejin stood up and paced back and forth, waving his fists from time to time, "If we could buy the share price of Volkswagen Group at this price, we would have achieved the 50% target a long time ago." No, maybe 60% of it will be done! ”

Sudden surprise to Wolfgang. Porsche couldn't sit still. His eyes became eager when he looked at Zhong Shi, "Mr. Zhong, you are really the VIP of the Porsche family. Say, what conditions do we need to pay to be able to transfer these option agreements? ”

At the critical moment, he still maintained the composure and shrewdness that a businessman should have, knowing that Zhong Shi would not come up with this option agreement for no reason. There's never been a pie from the sky, Wolfgang. Porsche understood this at a very young age.

Finally, it was time for a showdown, and a strange smile appeared on the corner of Zhong Shi's mouth, "Mr. Wolfgang, don't you want to ask, how much of the Volkswagen Group's share acquisition ratio is included in this document?" If it's too small, it won't help you in any way! ”

"Yes, yes, I was negligent!" Wolfgang. Porsche's old face flushed, and he secretly sighed that he was anxious, "It's indeed as Mr. Zhong said." So Mr. Zhong, how many similar options have you acquired? ”

"40%, if you all exercise your rights, enough to control the Volkswagen Group completely!" Zhong Shi confidently gave a hand and gave a let Wolfgang. Porsche and Wei Dejin were dumbfounded, "Together with the shares in your hands, it is enough to control the entire Volkswagen Group!" ”

"God, how is this possible?" Wei Dejin was ecstatic, and even shouted out out of gaffe, "40%." Add in the 42.6% we have on hand, isn't that 82.6%......"

Speaking of this, he suddenly remembered something, and his voice stopped abruptly.

"Did you notice something was wrong?" The smile on Zhong Shi's face became even stronger, "Counting the 20.1% stake in the hands of the Upper and Lower Saxony state government, the total number of shares has exceeded 100%. Obviously, you can't exercise so many options. But if it's up to 75%, it's entirely possible. So I'm not going to transfer all the options on hand to you, up to 30% of the options. ”

"No, no, my friend, 30 percent is too little, at least 35 percent."

Wolfgang. Porsche waved his hand repeatedly, "I think you are the most reliable friend of our family, and I believe that you will live up to this trust." If it's 30%. We don't necessarily have full control over the Volkswagen Group. On this point, we are resolute, at least 35%. ”

"It's up to you to eat it!"

Zhong Shi was noncommittal and changed the subject, "Among my options, the highest value and the current price diverge is as high as 80 euros per share, and the lowest is 50 euros per share. Based on the current 380 million shares of the Volkswagen Group, the options I have on hand are worth at least 7.6 billion euros. And if you want a 35% option. At least 6.65 billion euros will be at a cost. Mr. Wolfgang, are you sure that Porsche will be able to come up with so much cash now? ”

"What?" Wolfgang. Porsche and Weidekin were shocked. They never expected that this part of the option would require such a large amount, and the two looked at each other for a while, not knowing what to say.

At this rate, they would be able to acquire about 30 million shares of Volkswagen Group on the market, which is about 9% of the total share capital. This is only ideal, as soon as the positions of the Porsche Group are announced. The Volkswagen Group's share price will certainly continue to rise. But if you use this money to buy these options, you will have to pay a large amount of money to exercise them in the future, which makes Wolfgang . Both Porsche and Weidekin found it tricky.

In fact, what Zhong Shi said was not wrong, but what he was hiding was the cost of these options. Today, these options are worth at least €7.6 billion, which is the cash delivery profit based on the strike price compared to the market price. In fact, Zhongshi only spent 187 million euros to absorb these options. After the margin is paid in full, the market doesn't even know about the position.

"Of course, given our friendly friendship, I can transfer a portion of the options to you at a discount." Zhong Shi saw the hesitation in the eyes of the two, and gave them a reassurance pill at the moment, "Of course, I can't lose too much." You know, even if I exercise it now, the returns on these options are absolutely safe. So you discuss how many options you need, and then we will discuss the price. ”

"32.5%, that's our floor!" Wolfgang. Porsche only thought for a moment, then resolutely gritted his teeth and said, "With what we held before, we basically achieved the goal of total control." As for the price......"

He didn't go any further, waiting for Zhong Shi to make a suitable offer.

By now, he and Wei Dejin have understood that the funds paid to Zhong Shi mean that the strike price of this part of the option is raised, after all, he has a request from others and is stealing the other party's profits. Therefore, he will not say a high offer, because it is not in his own interests, and he will not say a low offer, because the decision is not in the hands of his own side at all. Now he can only pray that Zhong Shi will not quote too high a price.

"5 billion euros, that's my bottom line!"

Zhong Shi and Jiang Shan looked at each other and smiled, knowing that the other party was already moved, and immediately reported a number that had been discussed a long time ago, "I'm sorry, Mr. Wolfgang, this number will not change." If you don't want to, we can't negotiate a deal. ”

Five billion euros is no small amount for the current Porsche Group. But if the Volkswagen Group can be acquired, this figure is nothing. Wolfgang. Porsche pursed his lips and wanted to say something, but he didn't say a word for a long time.

"But we don't have enough cash!" Wei Dejin saw what his boss meant, and asked tentatively, "Can it be in the form of installments?" Or a portion of Porsche stock converted into cash, or collateral? ”

"Of course not!"

Zhong Shi flatly vetoed, "I know you've gotten a lot of cash from the bank lately, and that's what I'm targeting. But don't worry too much, if you agree to my request, I will tell you a way to amass a lot of cash very quickly, an absolutely effective way to make up for the lack of cash in a very fast way. ”

"How?" Wolfgang. Porsche asked subconsciously.

"So you're agreeing to my terms?" Zhong Shi smiled and said, "But it doesn't matter if I don't agree, because my method will take advantage of the options I have on hand." In fact, the reason is very simple, it is to use these options to force short, so that those vulture funds pay the due price. ”

"I promised, tell me what to do?"

Wolfgang. After fighting for a long time, Porsche gritted his teeth and made up his mind. (To be continued......)

PS: Thank you for the heavy reward of the flying leaf in the flying of the book friend! Thank you book friends I love Xiaojia, RB720802, Huang Tianlong, and Jiang Feng 25412 for voting for the monthly ticket! Recently, I've started to write very hard, and the author continues to work hard to organize his thoughts and try to keep it stable and updated~ I hope you will support you a lot~