One in the evening. 一晚上。 Li Dong in the hotel room, made an appointment with the person of Morgan Stanley. 李东在酒店房间,约见了摩根士丹利的人。 Morgan Stanley and JP Morgan Chase, as second US five big investment bank, naturally, after Lehman goes out of business, is four big investment banks. 摩根士丹利和摩根大通,作为美国五大投行之二,当然,雷曼倒闭后,就是四大投行了。 These two, are actually the whole families. 这两家,其实原本是一家人。 Morgan Stanley, according to principle, actually son of JP Morgan Chase. 摩根士丹利,按照原则来说,其实还是摩根大通的儿子。 However the outside world likes calling Morgan Stanley is rubs, JP Morgan Chase is little rubs, typical big end of son capitellum father. 不过外界都喜欢称呼摩根士丹利为大摩,摩根大通为小摩,典型的大头儿子小头爸爸。 Reason that called, was not the strength of Morgan Stanley is stronger than JP Morgan Chase, in fact the overall strength also wanted to be weaker. 之所以这么称呼,不是摩根士丹利的实力比摩根大通强,实际上总体实力还要弱一些。 May in the investment field, Morgan Stanley stronger compared with JP Morgan Chase absolutely. 可在投资领域,摩根士丹利绝对比摩根大通要强。 To the utilization of capital, Morgan Stanley achieved the limit. 对资本的运用,摩根士丹利做到了极限。 Domestic and foreign, Morgan Stanley made many well-known cases. 国内外,摩根士丹利都做出了很多知名案例。 But internally, Morgan Stanley also achieved the peak, many well-known enterprises have accepted opposite party's investment, finally by the despair of pit. 而在国内,摩根士丹利也做到了巅峰,业内很多知名的企业都接受过对方的投资,也最后都被坑的绝望。 The example of Yunglo, had said before. 永乐的例子,之前说过。 Moreover is that side Mengniu, actually Morgan Stanley most likes to betting the agreement with domestic enterprise signing, wins to turn over to each time. 另外就是蒙牛那边,其实摩根士丹利最喜欢和国内企业签订对赌协议,每次都大胜而归。 Yunglo and rubs to betting the agreement, is unable to complete the agreement by Yunglo finally, finally has to turn to Gome, this is actually the Moroccan operation. 永乐和大摩的对赌协议,最后以永乐无法完成协议,最终不得不投靠了国美,这其实就是大摩运作的。 But Mengniu is also the same, initially signed with rubs to betting the agreement. 而蒙牛也一样,当初和大摩签订了对赌协议。 Naturally, the result of Mengniu was better, finally achieved the goal, may achieve the goal, represented rubs to gain one greatly. 当然,蒙牛的结局要好一点,最终完成了目标,可完成目标,就代表着大摩大赚一笔。 They sign to betting the agreement, the generic condition is very difficult to achieve. 他们签订对赌协议,一般条件都很难达成。 Once achieved, that is above the imagination on behalf of the profit. 一旦达成了,那就代表利润超乎想象。 Li Dong never felt, these capital organizations are the Savior, they drink the blood, is more flagitious than anybody. 李东从不觉得,这些资本机构是救世主,他们喝起血来,比任何人都要凶残。 But sometimes, you have to seek their help. 可有时候,你不得不去寻求他们的帮助。 For example this time, Li Dong has to discuss the cooperation with the opposite party, moreover stands the status of passive seeks the cooperation. 比如这次,李东就不得不和对方谈合作,而且还是站在被动者的身份上来寻求合作。 He talked with the person in rubs in private, the opposite party was not silly, which has not known that his goal was. 他私下约谈大摩的人,对方又不傻,哪还不知道他的目的所在。 Actually rubs receives the message time also surprised in the extreme, but, they excited in the extreme! 其实大摩这边收到消息的时候也惊讶的无以复加,可紧接着,他们就兴奋的无以复加！ Because they know, the opportunity came! 因为他们知道,机会来了！ The pain butchered Li Dong opportunity to come! 痛宰李东的机会来了！ Before invested the micro blog not to calculate, at that time, the micro blog estimate value somewhat was above the expectation, finally after financing , the estimate value reached as high as 3.12 billion US dollars! 之前投资微博不算,那时候,微博估值有些超乎预料,最终融资后估值高达31.2亿美元！ This is higher than wanting that they budgeted, in was also actually far to gain at that time. 这比他们预算的要高很多,其实在当时也谈不上赚不赚。 That time, can only say that everyone does business normally, the investment banks have not picked up a bargain. 那一次,只能说大家正常做生意,投行们并未捡到便宜。 But this difference! 可这一次不同！ Li Dong makes an appointment with east their these country US stock market in private, discussed that the matter of Gome stock, the will in Gome, as one of the Gome major stockholders, rubs had the initiative. 李东私下约见他们这些国美股东,谈国美股份的事,志在国美,作为国美的大股东之一,大摩就掌握了主动权。 rubs also attaches great importance to very much, the head in Huaxia area, this time was only a personal servant. 大摩这边也很重视,华夏区的负责人,这时候只是跟班。 That side Moroccan Headquarters, sent an executive to bring the team to come and Li Dong personally negotiates. 大摩总部那边,亲自派了一位高管带着团队来和李东谈判。 ...... …… Every so often, others thought that the big nose foreigner is very direct. 很多时候,别人都觉得大鼻子老外很直接。 However, Li Dong never thinks. 然而,李东从不这么认为。 Thinks that these foreigner straightforward people, have not certainly seen these cunning capitalists! 认为这些老外耿直的人,一定是没见过那些奸猾的资本家！ The two sides just started to discuss, opposite big nose foreigner said astonishingly, using the fluent Chinese to tell Li Dong, „Gome in morganstanley internal evaluation value above 20 billion US dollars!” 两边刚开始会谈,对面的大鼻子老外就言出惊人,用着流利至极的汉语告诉李东,“国美在morganstanley内部评估价值在200亿美元之上！” 20 billion US dollars! 200亿美元！ 130 billion Renminbi! 1300亿人民币！ Li Dong knows that the opposite party will want a lion's share, but has not thought certainly, the opposite party can be this big opens the mouth! 李东知道对方会狮子大开口,可绝没想到,对方会是这种大开口！ This saying, Li Dong looked down the watch say/way: „Sorry, my also a little matter, then discussed again!” 这话一出,李东低头看了看手表道:“抱歉,我还有点事,回头再谈！” Throws down this saying, Li Dong must dodge the person. 丢下这话,李东就要闪人。 He, really worked as himself the idiot. 他么的,真把自己当白痴了。 130 billion, gather 7 stocks that you hold now, do you prepare to sell me over 9 billion? 1300亿,合着你们现在持有的七股份,你准备卖我90亿以上？ Before rubs held the Gome 8 stocks, later the opposite party reduced 1, wanted to be lower than Fukang that side, but the opposite party dares to start out 6 times of prices unexpectedly! 之前大摩持有国美八的股份,后期对方减持一,比富康那边还要低一些,可对方居然敢开出六倍的价格！ Even if just started to discuss, Li Dong also knows, cannot discuss. 哪怕是刚开始谈,李东也知道,谈不下去了。 His initial price 20 billion US dollars, you cut half, that calculated well. 他开价200亿美元,你砍个一半,那算不错了。 In the end, is the value over 65 billion, Gome most peak, cannot reach this value. 到头来,还是价值650亿以上,国美最巅峰时期,也达不到这个价值。 Even if in addition un- listing part, is unworthy so many. 哪怕加上未上市部分,也不值这么多。 Li Dongzhen must say to start to discuss, behind do not want to say the low price. 李东真要接话开始谈,后面就别想说低价了。 Sees Li Dong to walk, the big nose said with a laugh: „Mr. titan worried, the business, can discuss slowly......” 见李东要走,大鼻子笑呵呵道:“titan先生太着急了,生意,可以慢慢谈……” He finishes barely the words, Li Dong on face underworld gang: „Is Mr. titan which? If Mr. Bill wants to look for Titan, I can help you send the looking for missing people advertisement, but Titan had exterminated, perhaps could not find!” 他话音未落,李东就脸黑道:“titan先生是哪位？如果比尔先生想找泰坦,我可以帮你发个寻人广告,不过泰坦已经灭绝了,恐怕找不到了！” To the taste of foreigner, Li Dong woulds not venture to give positive comments on. 对老外的品味,李东不敢恭维。 Perhaps the big nose thought that called Mr. Li Dongwei Titan, helped pull closer the distance, may to Li Dong, this he what ghost! 也许大鼻子觉得称呼李东为泰坦先生,有助于拉近距离,可对李东来说,这他么什么鬼！ Before this title appears, he felt, this is to a title of silly orangutan. 早在这个称谓出现之前,他就觉得,这是对一只傻猩猩的称谓。 Now unexpectedly also becomes the routine terminology, has not given this big nose one to punch face to face, calculates that Li Dong does right by he. 现在居然还成习惯性用语了,没当面给这个大鼻子一顿揍,算李东对得起他。 Is disinclined to pester with him, Li Dong said directly: „ Gome, the market value also in 3 billion US dollars, this surpasses the market price at present absolutely. 懒得跟他纠缠,李东直接道:“国美这边,目前市值也就在30亿美元,这绝对超出了市场价位。 My goal, you should know that is right. 我的目的,你们应该知道才对。 I am also disinclined to bargain back and forth with you, 5 micro blog stocks, receive in exchange for the Gome stocks in your hand. 我也懒得跟你们讨价还价,五的微博股份,换取你们手中的国美股份。 Can comply, we fight a battle to force a quick decision, cannot comply, nothing more to be said. 能答应,我们就速战速决,不能答应,那没什么好说的。 Once Gome cannot arrive in my hand, then, I will unite Su Ning several, encircles Gome. 国美一旦不能到我手中,接下来,我会联合苏宁几家,对国美进行围剿。 Waited till that time, are the stocks in your hand valuable, that did not say. 等到了那时候,你们手中的股份还值不值钱,那不好说。 But I, have the preliminary advantage in this, even after encircling divides the booty, the attained benefit will not be low. 而我,有先期优势在这,哪怕围剿后分赃,拿到的利益也不会太低。 At least, on the country line of beauty had been taken over control by us. 起码,国美线上已经被我们接管。 Before the micro blog, after two rounds of financing, estimate value 3.12 billion US dollars, the micro blog makes a connection with the European channel now, the Asian sector also expanded the scale, increased the influence. 微博之前在二轮融资后,估值31.2亿美元,如今微博打通了欧洲渠道,亚洲版块也扩大了规模,增加了影响力。 But internally the part, our users continue to rise dramatically, the market share climbs high successively. 而在国内部分,我们的用户持续暴增,市场占有率节节攀高。 Now is not financing, but with my fixed stock receiving in exchange, after then third round of financing, you will get bigger interests. 现在不是融资,而是拿我的固定股份换取,接下来第三轮融资之后,你们会获得更大的利益。 Your 7 Gome stocks, value also about 200 million US dollars. 你们的七国美股份,价值也就在2亿美元左右。 But present micro blog 5 stocks, I , if willing to act, absolutely over 200 million US dollars! 而现在的微博五股份,我要是愿意出手,绝对超过2亿美元！ The people who are familiar with my Li Dong know, I work the speech is very bright, is very happy. 熟悉我李东的人都知道,我这个人做事说话都很敞亮,也很痛快。 The beforehand financing cocktail party, your people have the participation, knows my attitude. 之前的融资酒会,你们的人也有参与,知道我的作风。 Changes into usually, I will not receive in exchange for Gome stock with the micro blog stock absolutely, because this will cause the serious damage to me. 换成平时,我绝对不会拿微博股份来换取国美股份,因为这会对我造成重大损失。 Now, can have this opportunity, is actually we need. 现在,能有这种机会,其实是我们双方都需要的。 Naturally, if you felt, the stock of Gome makes money compared with the micro blog, is more dependable, that today we when has not met. 当然,你们要是觉得,国美的股份比微博更赚钱,更把稳,那今天咱们就当没见过面。 However also requests Mr. Bill to keep secret for me, this is also the basic business principle, Morgan Stanley takes the worldwide basis well-known investment bank, I want to be insufficient, for this minor matter does to harm your reputation/honorary the matter. ” 不过还烦请比尔先生为我保密,这也是基本的商业原则,摩根士丹利作为世界性知名投行,我想不至于为了这点小事做有损你们名誉的事。” Big nose hears word hurried say/way: „ This, will certainly not keep secret for the customer, is our basic principles! 大鼻子闻言急忙道:“这点当然不会,为客户保密,是我们的基本原则！ However Mr. Li said that Gome value is less than 3 billion US dollars, regardless of this is impossible! 不过李先生说国美价值不到30亿美元,这点无论绝不可能！ Also, received exchange for the Gome 7 stocks with the micro blog 5 stocks...... 还有,拿微博五的股份换取国美七的股份…… My God! ” 我的天啊！” Inconceivable of big nose face, a shock of face, as well as cannot believe that completely looks at Li Dong. 大鼻子一脸的不可思议,一脸的震惊,以及完全不敢相信地看着李东。 „ Micro blog establishment is about less than two years of time, 07 the second half of the year gets online officially. “微博成立不过两年不到的时间,07年下半年才正式上线。 But Gome was founded in 1987, was earlier than for 20 years the micro blog. 而国美成立于1987年,比微博早了20年。 Also, the micro blog has not started to gain, but also in investment phase, but the system of Gome is mature, even is the Huaxia retail business ranked the first. 还有,微博至今都未开始盈利,还处于投资阶段,而国美的体系早就成熟,甚至一直是华夏排名第一的零售企业。 This is with the super retail giant who Wal-Mart is on par with, but Mr. Li wants to change Wal-Mart with twitter unexpectedly...... ” 这是和沃尔玛比肩的超级零售巨头,而李先生居然想拿twitter换沃尔玛……” Big nose I was quickly insane the expression, making Li Dongshi say with a smile: „ Mr. Bill, everyone was an adult, some jokes did not need to take to lose each other time. 大鼻子一副我快疯了的表情,让李东失笑道:“比尔先生,大家都是成年人了,有些笑话还是不用拿出来耽误彼此的时间了。 First, Gome is not Wal-Mart, the micro blog is not twitter. 首先,国美不是沃尔玛,微博也不是twitter。 Next, according to your view, the morning that who establishes, who on the cow, our distant place can withdraw from the business circle thoroughly. 其次,按照你的说法,谁成立的早,谁就牛,那我们远方可以彻底退出商界了。 Nowadays, casual roadside booth, the establish time may be earlier than the distant place. 现如今,随便一个路边摊,成立的时间都有可能比远方早。 Discussed that these do not have the meaning. 谈这些没意思。 The micro blog 5 stocks, after three rounds of financing, as well as after then goes on the market, are diluted part, at least can also maintain about 3.5. 微博五的股份,经过三轮融资,以及接下来上市之后被稀释一部分,起码还能保持3.5左右。 But the micro blog goes on the market, according to my estimate, the market value can be 50 billion dollars at least! 而微博上市,按照我的估算,市值起码能达到500亿美金！ Such a calculates, you gained in a big way. 这么一算,你们赚大了。 1.75 billion US dollars, over 12 billion Renminbi, you said that Gome value 20 billion US dollars, I acknowledged this even, you still gained. 17.5亿美元,超过120亿的人民币,你说国美价值200亿美元,我就算承认这点,你们也赚了。 Mr. Bill, I said that I always very simply direct. 比尔先生,我说了,我这个人向来很干脆直接。 The price that I give, will not treat unjustly the friend generally. 我给出的价位,一般都不会亏待朋友。 Naturally, if you are not willing to trade with the micro blog stock, I do not have the opinion, then we can discuss the matter of cash purchase. 当然,如果你们不愿意用微博股份换,我没意见,接下来我们可以谈谈现金收购的事。 1.5 billion Renminbi, premium 10, regarding the current Gome, the price that I give, shows extreme tolerance. 15亿人民币,溢价十,对于目前的国美而言,我给出的价格,也是仁至义尽。 Morgan Stanley did not agree, always some people can want. 摩根士丹利不同意,总有人会愿意的。 I did not mean that belongs to you, naturally, if you felt, kicked out of the way my Li Dong, will make Gome in the future better, the prospects for development are broader, I congratulate you. 我不是说非你们不可,当然,如果你们觉得,踢开了我李东,会让国美未来更好,发展前景更广,那我恭喜你们。 But once you cause trouble, my offensive talk said in front. 可一旦你们从中作祟,那我丑话说在前面。 Arrived finally, you possibly complete wipe-out in the investment of Gome, this possibility big, you as the specialized financial institution, do not need my Li Dong to remind. ” 到最后,你们可能会在国美的投资血本无归,这点可能性有多大,你们作为专业的金融机构,不用我李东去提醒。” „Mr. Li......” “李先生……” „......” “……” Both sides violent debate, said over and over again, value that disparaged the micro blog, value that disparaged Gome. 双方唇枪舌剑,说来说去,一个贬低微博的价值,一个贬低国美的价值。 Li Dong thought that Gome is not valuable, 20 billion Renminbi calculated the overestimation. 李东觉得国美不值钱,200亿人民币都算高估了。 But the big nose felt, the micro blog is the bomb after capital organization packing, let alone the beforehand 3.12 billion US dollars, are 2 billion US dollars, is actually unworthy. 而大鼻子则觉得,微博才是资本机构包装后的炸弹,别说之前的31.2亿美元,就是20亿美元,其实都不值。 Talked about finally, Li Dong whole face did not say patiently: Words that „ 13.5 million, can accept, we in three days handle, is unacceptable, we can disperse. 谈到最后,李东满脸的不耐烦道:“1350万股,能接受的话,咱们三天内搞定,不能接受,咱们可以散了。 The sentence is impolite, I do not have the time to waste the too much time on Gome. 说句不客气的,我没时间在国美身上浪费太多的时间。 If cannot achieve my anticipation, I must make the best use of the time, conducts my next plan. 如果不能达成我的预期,我要抓紧时间,进行我的下一步计划。 I know that the styles of your investment bank, you thought such big transactions, did not discuss one year or is not so anxious. 我知道你们这些投行的行事风格,你觉得这么大笔的交易,不谈个一年半载的都不急。 But to me, the time is money. 可对我而言,时间就是金钱。 A year later, I possibly gained a Gome to come out. 一年后,我可能赚了一个国美出来。 At this time, every time delayed for day, I owed. 这时候,每耽误一天,我都亏了。 Now I am willing to replace 13.5 million, in ten days for half a month, I may bid 10 million micro blog capital stocks, if Mr. Bill thought that my Li Dong may not believe, can give a try. ” 现在我愿意置换1350万股,再过十天半个月,我可能出价1000万股微博股本,比尔先生要是觉得我李东的话不可信,可以试试看。” To the people of these investment banks, Li Dong spoke is not polite. 对这些投行的人,李东说话不算客气。 Comes for money, comes for the benefit. 都是为了钱而来,为了利益而来。 You to the opportunity that he makes money, is to make him call the father, he wants. 你给他赚钱的机会,就是让他叫爹,他都愿意。 But you opportunity, if to him not making money, you called his father is also useless. 可你要是不给他赚钱的机会,你叫他爹也没用。 Everyone is the naked interest relations, with the people of other industries, playing the dozen of sentimental signs is good, discussed the friendship with these worldwide basis capital organizations, how finally dead does not know. 大家就是赤裸裸的利益关系,和其他行业的人,打打感情牌还行,和这些世界性资本机构谈交情,最后怎么死的都不知道。 Micro blog total capital stock 260 million, 13.5 million, actually also 5.2. 微博总股本2亿6000万股,1350万股,其实也就5.2不到。 Really wants to trade the Gome 7 stocks now, said no that on said whom gains to owe. 真要现在换国美七的股份,说不上说赚谁亏。 At least from the value, rubs also somewhat owes. 起码从价值上而言,大摩这边还有些亏。 After all after Li Dong acquires stakes in Gome, then the good news impact, possibly can pull the value of Gome. 毕竟李东入股国美之后,接下来利好消息冲击,可能能拉高国美的价值。 May become also Li Dong, defeat also Li Dong. 可成也李东,败也李东。 Once Li Dong and rubs trade the failure, when the time comes does not draw back going abroad beautiful, is the layout, starts to suppress Gome. 一旦李东和大摩交易失败,到时候不是退出国美,就是重新布局,开始打压国美。 No matter how said, finally possibly is Gome disastrous defeat. 不管怎么说,最后可能是国美惨败。 But to that time, the stock of Gome was not big on the value. 而到了那时候,国美的股份就价值不大了。 Instead is the micro blog, do not look at not valuable as that Bill said that industry that in fact, for these years, the Internet industry most made money, is the investment return ratio highest industry. 反而是微博,别看比尔说的不值钱似的,实际上,这几年,互联网产业才是最赚钱的产业,才是投资回报率最高的产业。 Several times, over a hundred times of returns, are not unusual. 十几倍,上百倍的回报,一点都不稀奇。 But wants in industry, to obtain such investment return ratio, except for saying washed to rest, was impossible. 而想在实业方面,获得这样的投资回报率,除了说洗洗睡吧,根本不可能。 Trades, rubs is willing to trade. 换,大摩是愿意换的。 Before may come, the appraisers and experts in rubs felt, 7 Gome stocks, do not have the issue with the micro blog equivalent replacement. 可来之前,大摩的评估师和专家都觉得,七的国美股份,和微博等值置换还是没问题的。 In other words, 7 receive in exchange for 7. 也就是说,七换取七。 In addition before , they almost took 3 capital stocks, in other words, they will then be 10 in the total capital stock of micro blog. 加上之前他们差不多拿下了三的股本,也就是说,接下来他们在微博的总股本会达到十。 Becoming the micro blog after the distant place, the second major stockholder. 成为微博继远方之后,第二大股东。 Had such advantage, later continues to finance even if, rubs can also occupy the initiative in the micro blog project. 有了这样的优势在,之后哪怕继续融资,大摩也能在微博项目上占据主动权。 The words that the operation goes on the market, they will obtain the rich incomparable return in the future. 运营上市的话,未来他们会获得丰厚无比的回报率。 But now, the equivalent replacement cannot achieve unexpectedly continually, Birden however does not want. 可现在,居然连等值置换都做不到,比尔当然不愿意。 He does not want, Li Dong did not say anything. 他不愿意,李东也不说什么。 The investment bank that this time he must replace were many, if gives is too high, the micro blog almost did not have. 这次他要置换的投行多了,要是都给的太高,微博差不多就没了。 Although Li Dong too does not take seriously the micro blog the industry to supplement, does not represent with money cannot pass! 李东虽然不太重视微博的产业补充,可不代表和钱过不去！ Micro blog listing circle money is inevitable, really does not have money now, he has not been glad to trade. 微博上市圈钱是必然的,要不是现在真没钱,他还不乐意换呢。 Sees Bill complexion Yin clear uncertain, when Li Dong looked again by-path: „Mr. Bill, this, you can go back to discuss, I then have the guest to receive, was sorry.” 见比尔脸色阴晴不定,李东再次看了看时间道:“比尔先生,这样吧,你们可以回去商量一下,我接下来还有客人要接待,抱歉了。” The big nose gawked, others also gawked! 大鼻子愣了一下,其他人也都愣了一下！ Fantasy! 活见鬼了！ The first time, is really the first time, the people in rubs saw a visitor out unexpectedly! 第一次,真的是第一次,大摩的人居然被送客了！ Before coming, they feel the initiative in their, why to the present, probably in turn? 来之前,他们觉得主动权在他们这,为什么到了现在,好像反过来了？ Their surprise, surprised, Li Dong is actually indifferent. 他们诧异,惊讶,李东却是无所谓。 The so-called initiative, belongs to the benefit finally, the vampires only cares about the benefit, does not need to discuss what etiquette with the big noses. 所谓的主动权,最终都归于利益,吸血鬼们只在乎利益,和大鼻子们没必要谈什么礼仪。 Naturally, this is also divides the person and sub-field gathers, under the public area, Li Dong must pay attention to the style of nation of etiquette. 当然,这也是分人和分场合,公共场合下,李东就得注意一下礼仪之邦的风范了。