Top of the big era

From short-sleeved shorts from Australia to long thickened windbreakers from the United States, Zhou Buqi really has the feeling of traveling through all seasons. Boss Ma is very earthy. He wears a gray and fluffy down jacket. He is already short, but after wearing it, he looks round.

The two left Son Zhengyi's home and planned to find a place to sit down, drink tea and chat.

When Zhou Buqi saw how he was dressed, he couldn't help but said, "You should also find a designer to clean it up for you. People rely on clothes and horses rely on saddles. Can you dress appropriately? You are too vulgar."

Boss Ma said nonchalantly: "It's not that people rely on clothes, but clothes that rely on people's clothes."

Zhou Buqi said: "You can still pretend."

The Greater Bay Area is also his territory. He wants to lead the way to an indoor leisure club in the suburbs of San Jose. Boss Ma thought it was too far, so he said that the Japanese tea ceremony house with a fresh environment that Sun Zhengyi always went to with them was very good, so they should go there.

Boss Ma said: "The main reason is that this kind of place is more comfortable. Once you enter, you can take off your shoes and get on the kang. You can also lie down on your side."

Zhou Buqi nodded, "Well, it would be nice if it was a fire kang. In this winter, it is more comfortable to stay on a fire kang in the northeast."

Boss Ma smiled and said, "Isn't there an electric kang?"

Zhou Buqi shook his head, "That's different. The fire pit has the smell of smoke. Especially when you sit for a long time and your butt is burned, it's so enjoyable. When you have time, you go to the northeast, and we go to the fire pit to eat goose stewed with mushrooms."

Boss Ma laughed and said, "You are still stupid."

When he arrived at the store, Zhou Buqi was not polite and picked two delicate and beautiful tea masters from a row of girls to serve him.

After taking off his shoes and getting on the tatami, Boss Ma suddenly said: "By the way, the group buying trend in China has collapsed a bit. Are you paying attention?"

Zhou Buqi said "hmm" and said, "I heard that several companies have run away and defrauded a lot of money."

Boss Ma sighed, "The e-commerce market is quite good, but because of this group of people, the entire industry will be in trouble again, and it won't be able to recover for a year and a half. Last month's Double Eleven event, sales It didn’t even meet expectations.”

Zhou Buqi glanced at him, "Are you serious?"

Boss Ma was slightly startled, "What do you mean?"

Zhou Buqi curled his lips, "I thought you were deliberately lowering sales."

Boss Ma's face darkened, "What's the truth? I've always only made sales high, how can I say low sales? It's inexplicable!"

Zhou Buqi snorted, "Others can't do this kind of thing, but not you, Boss Ma! You have such a high vision, maybe you have a big plan behind your back!"

Boss Ma narrowed his eyes slightly, "What do you mean?"

Zhou Buqi smiled and said: "Alibaba's stock price in Hong Kong has been sluggish for a long time. At the end of September, you also conducted a financing and received US$1.6 billion..."

Boss Ma explained: "Didn't I tell you, I have plans to delist from Hong Kong Island. B2B business has changed from a core position to a marginal business in Ali, and it is no longer suitable to represent Ali. The last round of financing The US$1.6 billion is used to buy back shares after delisting.”

"Really?" Zhou Buqi said with a look of disbelief, half truthfully, half jokingly, "5% of the shares are only 1.6 billion U.S. dollars, and Alibaba's valuation is only 32 billion U.S. dollars. Amazing! Amazing, what a deal. Big chess.”

Boss Ma said angrily: "Stop being so weird with me!"

Zhou Buqi picked up a small cup of brewed tea. He felt very comfortable drinking hot tea in the winter. Looking at Boss Ma sitting opposite, he felt even more comfortable. He pretended to think and said: "Alibaba's valuation The lower the value, the lower the value of the 40% shares held by Yahoo, the lower the market value of Yahoo, and the lower the price for Alibaba to recycle the shares. The 5% share financing is just bait, for the purpose of fishing. The 40% stake held by Yahoo."

Boss Ma was shocked and looked at him blankly, "You have too much imagination, don't you?"

Zhou Buqi snorted: "You dare to say that you have no plan?"

The two of them came out to chat alone, and some things needed to be explained clearly. Boss Ma said helplessly: "There is some planning, but it has nothing to do with this. How can there be such a thing as bait or fishing?"

Zhou Buqi said: "Tell me, what's the plan? If you confess, you will be lenient, if you resist, you will be stern!"

Boss Ma drank a cup of tea and said angrily: "This is the first time I've seen people like you who are so confident in inquiring into other people's business secrets."

Zhou Buqi said with a smile: "I actually want to help and help you check for leaks and fill in the gaps."

"Help?" Boss Ma curled his lips, "You want to benefit from it, right?"

Zhou Buqi said: "I really want to help. You don't really want to count on Masayoshi Son, do you? Do you really think he can do it if you let him handle this matter? He can get Yahoo's board of directors, and then join forces with Blackstone Group, Bayi Encapital to do something bold?”

Boss Ma did not respond in a hurry, but sent the two tea masters away.

Although these are two Japanese girls, they don’t seem to speak Chinese.

Just in case.

It's better to clear the place.

After they left, Boss Ma lowered his voice, "As far as I know, Yahoo has received more than four bids, and Yahoo's board of directors is evaluating them. Tomorrow, SoftBank, Alibaba, and Blackstone Group Bain Capital will also make bids. "

Zhou Buqi is not very optimistic, "If it is done normally, there is no chance at all!"

Boss Ma smiled and said, "So absolutely?"

Zhou Buqi said: "Anyone with a discerning eye can see that Yahoo is seriously underestimated now. Yahoo's main business is indeed not very good, and the portal model is a bit behind the times. But Yahoo holds 35% of Yahoo Japan shares and 40% of Ali's shares, these are the trump assets. The current market value is only 20 billion US dollars, which is a bit too low. If nothing else, we all know what is going on with Ali. Americans have no confidence in Ali, I Yes! In such a large domestic market, as long as the e-commerce industry develops, Alibaba will have to soar, and its market value can be comparable to Amazon."

Boss Ma laughed and said: "That's why you are interested in this transaction and want to take the opportunity to buy a large amount of Alibaba shares?"

"So what?" Zhou Buqi did not evade, "Who is selling it to?"

Alibaba does not have that much money to acquire this 40% stake.

If you want to complete the transaction, you can only attract external capital institutions to take over. For example, Silver Lake Capital, Temasek Capital, etc., which have a relatively good relationship with Alibaba, asked them to buy the stock from Yahoo.

However, under the operational arrangements of Boss Ma, these capital institutions must transfer the voting rights to Alibaba's management, that is, Boss Ma, after purchasing these stocks.

In this way, he has firmly gained control of Ali and can sit back and relax.

This is truly a rare opportunity.

Rather than selling to outsiders like Silver Lake Capital, Temasek Capital, and DST Capital, why not sell to Boss Zhou? To whom is it not selling?

Zhou Buqi also made a righteous promise, "I will take over this stock. I don't want the voting rights, but I will give them to you. I don't want a seat on the board of directors. I just think Alibaba has a bright future. It is a pure financial investment."

Boss Ma nodded, sighed and said: "If you can really convince Yahoo's board of directors, of course that's fine. As long as you have the strength, can afford the money, and are willing to give me the voting rights, you can take over the 40% of the shares." It doesn’t matter. The key is that Yahoo’s attitude is very ambiguous now, and they don’t want to sell it at all.”

"Don't want to sell?" Zhou Buqi snorted coldly, "Yahoo's holding of Alibaba's stocks is originally a financial investment. Why doesn't it want to sell? It's just that the price is too low! With a market value of US$20 billion, the capital market is too It’s bullying, it’s strange that Yahoo’s board of directors would agree to it!”

"Um?"

Boss Ma looked at him with wide eyes and heard something about him.

Zhou Buqi did not continue, and waved his hand, "Anyway, if you let Son Zhengyi handle the situation, it will be impossible to succeed. This is not a question of level, it is a question of vision."

Boss Ma looked at him funny, "Do you have a higher vision than Son Zhengyi?"

"Isn't it high?" Zhou Buqi was no longer modest. "Let's talk about Ali. I definitely have more confidence in Ali than Sun Zhengyi. Otherwise, I wouldn't be able to give up my vacation and come all the way from Australia."

Boss Ma was silent for a while, and then slowly told the truth: "I don't think Sun Zhengyi will succeed in doing this."

"Huh?" Zhou Buqi raised his eyebrows, "Then you still let him do it? If you can't do it well, inform me earlier and I will make a plan for you. The success rate will be higher!"

"you?"

Boss Ma looked at him deeply.

Zhou Buqi figured something out immediately, his eyes meaningful, "So you still have a plan B, right?"

Boss Ma smiled and said nothing.

Zhou Buqi squinted his eyes and thought for a moment. With a little foresight and experience, he quickly deduced Boss Ma's real plan behind this, "Then I'll take a guess and see if I'm right."

Boss Ma smiled and said, "Okay, you can tell me."

Zhou Buqi said: "Originally, Yahoo's market value was less than 17 billion U.S. dollars. Now it has risen to 20 billion U.S. dollars. This is because there are too many acquisition invitations and capital speculation. The current market value is generally recognized by the capital market as a relatively reasonable value. The quotations. So most of the quotations will basically be around US$20 billion."

"Um."

"Even if the price offered by the three-party partnership represented by SoftBank, Alibaba, Blackstone and Bain is higher, it will not be much higher. It is far from satisfying the appetite of Yahoo's board of directors, especially Yang Zhiyuan and Forio. Psychologically, I feel sorry for it. Three years ago, Microsoft offered $44.6 billion to acquire Yahoo. Many shareholders were tempted and wanted to promote the deal. It was the firm opposition of Yang Zhiyuan and Forio that made the deal fall through. If Three years later, they sold Yahoo for more than 20 billion U.S. dollars. They couldn't explain it to their shareholders and were under too much pressure. It's easy to talk about money, but it's hard to deal with human nature!"

"That's really accurate!" Boss Ma gave a thumbs up, "Then what?"