Chapter 1448 Equity, Control
March 29, Tokyo, Japan.
Cen Wan, CEO of PLU Telecom, and Zheng Zhongjie, General Manager of Jinghua's Overseas Operations Department, led the negotiation team to conduct the first negotiation with the Asia-Pacific consortium in the Tianjiao Building, the headquarters of Tianjiao Fund in Ginza-ku, Tokyo.
Liu Teng, general manager of Jinghua Communication Japan Branch, personally served as the translator. We attach great importance to this cooperation negotiation with the Asia-Pacific consortium.
Tianjiao Fund is the core enterprise of the Asia-Pacific consortium. Therefore, the headquarters of Tianjiao Fund is the core decision-making body of the Asia-Pacific consortium. The headquarters in Manila, Philippines, is rarely actually opened.
In the bright conference room with floor-to-ceiling windows on three sides, a dozen business people sit at a crimson oval conference table. It's all suits and leather shoes.
Cen Wan, CEO of PLU Telecom on the left, looked at Liang Qiao Denan, senior manager of Tianjiao Fund. A typical Japanese with squinting eyes and a shiny sparkle.
The general framework of cooperation has been finalized by the senior management of the Hehua and Asia-Pacific consortium. PLU Telecom provides 3G technology support and establishes a joint venture with the Asia-Pacific consortium to form a mobile operator. The equity ratio is 64 open.
The Asia-Pacific consortium is responsible for registering the company, obtaining operating licenses, and negotiating partners in Japan.
The newly established Tucom company has a registered capital of 10 million US dollars. But then both sides need to contribute to the construction of a 3G network. It is estimated that it will cost $5 billion to build a TD-WCDMA network covering the four islands of the Japanese mainland, and it will take three years. PLU Telecom expects to spend $3 billion over three years.
However, TD's technology is compatible with the existing 2G network, GSM, and PDC in Japan. As long as Tucom negotiates communication network cooperation with Japanese operators, it will launch service packages to Japanese users in half a year.
The terms of cooperation are one by one. The details were slowly discussed. The atmosphere of the meeting was sometimes intense and soothing. It went from morning to afternoon.
Towards the end of today's negotiations. Liang Qiao Denan suddenly said: "President Cen, according to the agreement between Mr. Lu and President Takeshita. When the number of Tucom users reaches a certain size, Tianjiao Fund will start the process of acquiring 20% of the shares held by PLU Telecom. I think when Tucom has 10 million users, it can start this clause. β
Handing over the control of Tucom made Cen Wan feel as uncomfortable as if he had eaten a dead fly. It was something he had a hard time withstanding. Japan has a large market share of the handset market, and mobile operators dominate the industry. He was not willing to lose control at all.
However, this is an agreement reached between Mr. Lu and Shuichi Takeshita, the chairman of the Asia-Pacific Foundation, and he has no right to question it.
Immediately said: "Manager Liangqiao, now among the major mobile operators in Japan, the number of Docomo users is 50 million. It's not appropriate to set the number jΓΉ at 10 million, right? I think it would be appropriate to set the number of subscribers at 20 million and then acquire a 20% stake in PLU Telecom. β
He knew that it would be difficult for PLU Telecom, as a Hong Kong company, to control a mobile operator in the Japanese domestic telecommunications market.
It's just that. The value of Tucom's stake is certainly very different when it has 20 million users and when it has 10 million users. Since he wants to sell, he wants to sell it for a good price.
Liang Qiao Denan squinted his eyes and said neither soft nor hard: "President Cen, Tucom's more than 10 million users are very likely to attract the attention of China's regulatory authorities to equity. In this regard, it is better to listen to our opinions. β
Cen Wan choked on and had nothing to say. After the meeting, he returned to the office of Jinghua Communication Japan Branch and said to the assistant: "Made, tomorrow's negotiation of the management structure must be in accordance with our ideas. β
The agreement between PLU Telecom and Tianjiao Fund could not be negotiated within a day, and it was necessary to negotiate the structure of the board of directors and the management structure. Negotiations on the agreement will last more than 10 days.
Zheng Zhongjie, who was instructing the secretary to pour water, smiled slightly when he heard it. He is of medium height, looks frail, and has gray hair at the age of 48.
As the general manager of Jinghua's overseas operation department. When he was appointed by Zhou Fusheng, he was interested in his experience working at Samsung C&T and Sony, intending to open up the mobile phone market in Japan and South Korea.
I never thought that Jinghua's rapid development in recent years has continued to open up Europe, America and Australia. Markets in Southeast Asia, India, South America, Russia, etc. Finally, it became the world's second largest mobile phone manufacturer last year.
He is no longer just the person in charge of the Japanese and Korean markets, but has actually become one of the main deputies of Cheng Jianfeng, director of Jinghua's operation department. This makes it a lot of time for him to learn about the new market. Every day.
At this time, he said with a smile: "Mr. Cen." We will definitely be able to take the initiative in Tucom. We contribute technology and capital. Provide high-quality end products. Changing to a slightly more powerful partner can open up the Japanese market. It doesn't have to be an Asia-Pacific consortium. It is said that SoftBank has plans to enter the mobile communications market in Japan. β
Several of the core members of the office involved in today's negotiations bowed slightly. This is where the confidence of PLU Telecom and Jinghua Communication lies.
Cen Wan knew that Zheng Zhongjie graduated from Kyoto University in Japan and lived and worked in Japan and South Korea for many years, so he attached great importance to his opinion, and said with a smile: "I can't be angry with Qiao Denan's attitude." Mr. Zheng, we will hand over the controlling stake in a few years, and we have to do some work first. β
He reported to Mr. Mo before leaving. Mr. Mo said: No matter how the equity is distributed, at the beginning of the company's establishment, the company's rules and regulations must be laid to ensure the control of the company in the case of fewer shares in the future.
Zheng Zhongjie invited all his colleagues to sit down, drank coffee, and said with a smile: "Mr. Cen, even if we lose our controlling stake, our control over Tucom is not a problem. For example, Mitsui & Co. usually owns only 20% of the company's controlling rights.
We control technology and products, and in the field of consumer electronics, the Asia-Pacific consortium can only follow our baton. Unless, they leave us alone with other Japanese manufacturers. β
He met Lu Jing with Zhou Fusheng in his early years, and he had some personal relations with Lu Jing. Before he came to Japan, he sent Lu Jing an email asking for instructions. The mentality of Lu Jing is more accurate: Hehua can give up its controlling stake and avoid regulatory risks. However, it will not give up the actual control of Tucom.
Of course, in the future, after the Asia-Pacific consortium obtains a controlling stake. Open and secret battles are indispensable.
Cen Wan's assistant said worriedly: "Mr. Zheng, there is a high probability of this kind of thing..."
Liu Teng, general manager of Jinghua Communication Japan Branch on the side, smiled. Cen Wan looked at Zheng Zhongjie in some surprise
Zheng Zhongjie smiled. has the temperament of a weak scholar, "Assistant Wang." This matter begins with the relationship between the Asia-Pacific consortium and the Japanese consortium. The surname Takeshita is a Japanese aristocracy. But the nouveau riche after the Meiji Restoration were not one with the old aristocracy. The relationship between the Takeshita family and Mitsui and Mitsubishi chaebols was not good.
Therefore, we judge that as long as Tucom has enough profits, even if there is interest friction in the future, there is little chance that the Asia-Pacific consortium will part ways with us. β
Cen Wan smiled with relief, put his mind at ease, and then discussed the negotiation regulations with everyone.
It's important to hand in a perfect answer.
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At noon, Lu Jing and his party got out of the car. Walk to a noodle restaurant in the alley for lunch.
The two-lane alley has a Hong Kong flavor of the 60s and 70s. The building is old. Menus and seafood are placed at the entrance of each small shop. The rich aroma wafted out from the window with the sound of the stir-fry of the "zila" oil pan.
Lu Jing asked Ma Fei to contact the old department at the cocktail party two days ago, and today he went to the Du Ji Noodle Restaurant in the 2-kilometer alley of the World Yun Building for dinner.
Yang Xian, who was walking beside Lu Jing, told Lu Jing about the negotiations between PLU Telecom, Jinghua Communications and the Asia-Pacific Consortium, "Jing Shao, Cen Wan and Lao Zheng choked the Asia-Pacific Consortium yesterday. Tucom took all the management positions, leaving only one vice president in charge of finance. We take care of all HR recruitment. β
In the first negotiation, Cen Wan and Zheng Zhongjie were pressed by Liang Qiao Denan, the representative of the Asia-Pacific consortium, with the help of "home advantage". However, yesterday, the two of them found their way back to the field, arguing with each other, giving full play to the advantages of the controlling shareholder, and arguing one by one. Take a position in management. When Zheng Zhongjie reported to him last night, his tone was very cheerful.
Lu Jing smiled and nodded. The people below the negotiation process will definitely not report to him, only the final result.
Du Weicheng was old and reminded: "Jing Shao." This will be pressed too hard, and the Asia-Pacific consortium will definitely retaliate later. I don't think their concessions at this time may not be without the meaning of 'waiting for the future'. β
Lu Jing said with a smile: "Lao Du, the competition among mobile operators in Japan is very fierce. Tucom will have to wait at least three years for a 3G network covering Japan's four islands to be completed before it can develop rapidly. Three years is enough time for us to weaken the Asia-Pacific consortium. β
Several of them laughed.
Du Weicheng smiled. Since Lu Jing was prepared, he didn't say anything more.
Lu Jing and Shuichi Takeshita have a relationship that is both cooperative and fighting. The cooperation is: to develop the Japanese consumer electronics market. The difference is that Tang and Pei want to break away from the Asia-Pacific consortium.
Lu Jing because of his relationship with Tang Shijing. Determined the inclination of his position.
It is definitely impossible for Tang and Pei to break away from the Asia-Pacific consortium and let Shuichi Takeshita sell their shares back.
This has to be like war, to promote peace. Therefore, weakening the strength of the Asia-Pacific consortium is an inevitable move.
Of course, Lu Jing has no intention of breaking the contract, and he will still transfer 20% of Tucom's shares to Shuichi Takeshita.
With the rapid growth of Hehua, he doesn't know how strong Hehua will develop after 3 years. But it is certain that those who weaken the Asia-Pacific consortium will certainly not be able to compete with Hehuaming. Hehua's soft power control zhìTucom is not a castle in the air.
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Gatherings between friends are more intimate and casual in the shop. Eating in a high-end hotel can seem rusty. And for food, it is often the taste of small shops that is unusually authentic.
The small noodle shop called Du Ji recommended by Ma Fei is not big. The crimson counters and wooden tables are a little old. The golden beckoning cat kept waving its hand at the counter. A quarter past 12 noon, business was booming. There were still people waiting in line outside against the sun.
Lu Jing and the others sat at one table, and the accompanying assistants and bodyguards sat at two tables. Ma Fei went to the counter to order food well, and when he came back, he asked with a smile: "Jing Shao, do you want to drink some wine?" (To be continued......)