"Mr. Cai, why don't we continue to discuss the cooperation model, don't you think this model is a good choice for both parties? Nokia does not have to give up the mobile phone business, thus providing a useful complement to the network equipment market, and SAL does not have to take huge acquisition risks, and can join hands with Nokia to share a huge share of the mobile phone market."

After listening to the translated Cai Siqiang's answer, Terry continued to repeat the old words.

As the specific person in charge of Nokia's mobile phone business, Terry certainly hopes to keep this business, which is not only related to his position, but also related to his hard work in Nokia for most of his life.

"Mr. Terry, with all due respect, Nokia phones are like an empire of bosses, and now it's no longer a matter of tinkering to be able to get back on their feet." "I don't think that the cooperation between SAL and Nokia phones will solve all the problems of Nokia phones now, on the contrary, I think now is the time for Nokia phones to make changes." ”

"Only the complete transformation of the phoenix nirvana can completely activate the energy of Nokia mobile phones, Mr. Terry, with all due respect, if you really have any good way to solve your own problems, I think there will definitely be no negotiations today."

Cai Siqiang ruthlessly shattered the remaining illusions in Terry's heart.

Although the bottom line given by Duke is to win the controlling stake in Nokia's mobile phone, since there is hope to win all of them now, Cai Siqiang will certainly not be polite. To have the opportunity to win a former behemoth like Nokia is a completely different sense of accomplishment than a marginal industry company like TOMTOM.

I wonder if I can be featured in Time magazine this year and become a world-class entrepreneur.

The development of SAL company to the present, for Cai Siqiang, personal wealth is really nothing, nothing more than a number, now is to realize his ideals and ambitions and work hard, in front of him, is a mountain to look up to the general apple.

To be China's apple, SAL already has this qualification, but to be the world's apple, SAL is still just on the road.

"Mr. Cai is really fast-talking. I think I already know everything about our company's mobile phone business, "Although Cai Siqiang's words are a little harsh, but Terry feels that there is nothing after listening to it, in the shopping mall, everyone is the first to take the lead, and the others are illusory." "Since SAL insists on an exclusive offer to acquire Nokia's mobile phone business, we might as well have a frank exchange of views on this today."

Terry no longer insisted on his proposal, and since SAL was not interested in talking about cooperation, it was pointless to say more.

"According to the materials we learned from public sources, Nokia's mobile phone sales in 2013 were 11 billion US dollars, the gross profit margin of mobile phone sales was 21.3%, and the net loss of mobile phone business after deducting operating expenses was 1.3 billion US dollars." "But in the same public information, Nokia (including Nuoxi) spent $7.8 billion on R&D for the whole year, and based on this figure, combined with the proportion of R&D personnel between your company's mobile phones and network equipment departments, we estimate that your company's R&D expenses on mobile phones are as high as about $4 billion." ”

"According to this caliber, in fact, the annual loss of Nokia's mobile phone business should be 2.5-3 billion US dollars, not the 1.3 billion US dollars announced on the statement."

After the translator translated Cai Siqiang's words, Terry's face became more and more ugly the more he listened, and it was obvious that Cai Siqiang's words hit his soft underbelly.

"So, the mobile phone business has become a cash black hole for Nokia, and considering your company's public offering of 5.5% coupons of 1.25 billion euros (about $1.6 billion) due in 2014, and another 6.75% coupon of 1.5 billion euros (about 1.95 billion U.S. dollars) of corporate bonds due in 2015, your company will need to pay more than $3.8 billion in principal and interest in bonds due in two years." Mr. Tsai continues to be relentless in revealing Nokia's current financial woes.

"If you can't make a quick break in the mobile phone business now, some market participants predict that your company is likely to be in danger of breaking in terms of cash flow next year." Cai Siqiang continued. "From now on, your company has two options, one is a large-scale layoff, the mobile phone department can save $2 billion a year by cutting half of the staff, and of course, the minimum cost of layoffs this year is not less than $1 billion. And that's not to mention the enormous pressure from trade unions. ”

"The second is to sell the mobile phone business, which is almost the best option for your company at the moment, because not only can you not spend money, but you can earn a lot of cash, which is more beneficial for your company to invest in network equipment. I believe that is why today we are able to sit together and negotiate. ”

After listening to Cai Siqiang's words, Terry knew that there were really no secrets in this world, and he was thousands of miles away, and he could receive detailed information about a newly established company from the far east, and the other party also knew everything about himself. But Terry couldn't afford to put his side on the back foot at the start.

"Mr. Cai, although Nokia's mobile phone business is currently experiencing temporary difficulties, our network equipment business is thriving and we are fully capable of weathering the difficulties." Terry is noncommittal about the numbers cited by Cai Siqiang, which is a smart approach, because if you dwell on specific numbers with the other party, then you agree that most of the other party's views are right.

Terry, who has been in the industry for decades, would not make such a low-level mistake.

"If SAL is interested in acquiring our mobile phone business, how much can it cost you?" Terry wants to see what his opponent's hole cards are. In this kind of negotiation, who makes the first offer is actually very bad, and Terry wants to use this to turn the current negotiation situation around.

As a seller, it seems natural to listen to the buyer's offer.

Cai Siqiang also knew that he couldn't avoid this problem, and finally at the critical moment, thinking of this, Cai Siqiang's heart couldn't help but beat faster, although his face didn't change at all. Fortunately, he was prepared, and according to the calculation of the M&A consultant, he already had a case in mind.

After being silent for a while, Cai Siqiang calmed down his excitement and said calmly: "Based on the current situation of Nokia's mobile phone business, we are willing to bid $5 billion. ”