Chapter 803: Initiating the takeover

Before the phone tapping story broke in the Tin Tin Daily News the day before, the share price of Hong Kong Telephone Company was very stable, fluctuating around HK$35, with a stable market value of HK$770 million and a long-term steady upward trend.

And the Hong Kong and Shanghai Telephone Company, Limited, because it has more capital and a lower share price, fluctuates around HK$10.4, with a market value of HK$520 million.

But with the spate of wiretapping incidents being exposed over the past two days, and the targets of each wiretap being political and business leaders, the resulting uproar has been huge!

The two only telecommunications companies have naturally become the targets of the fire, not only having to accept the attention and condemnation from public opinion, but more importantly, they also need to withstand the impact of the capital market.

Major investment companies lowered their ratings on the two companies one after the other, and then began selling their holdings, trying to escape before the avalanche.

This in turn caused the stock prices to collapse even faster, and small and medium investors panicked and sold their shares.

Although the management of Hong Kong Telephone Company and Cable and Wireless Hong Kong Limited came forward to distance themselves from the affair, they were unable to stop the stock prices from falling.

Because everyone knew that the wiretapping incident was extraordinary and the targets were all big shots, it would not end easily.

As a result, the share prices of the two telecommunications companies plummeted by more than 30% in just two days.

The Hongkong Telephone Company fell to HK$24 per share, while Cable and Wireless HKT Limited fell below the HK$7 per share mark!

At this moment, another even more explosive piece of news broke.

The stock god Xia Yu spoke through Jiuding Securities Company, saying that he had discovered through self-examination that the company's and his home phones had also been monitored, causing him huge losses, and that someone had to bear the responsibility for this!

Once this was announced, the capital market shook violently, and everyone realised that there was something much bigger going on, and immediately turned their attention to the stock market.

Sure enough, the share prices of the two telecommunications companies fell several times faster, and the financial institutions that had originally been thinking of taking advantage of the situation immediately retreated, wisely choosing to wait and see.

The stock market kingpin, 'Jiuding Securities', was going to show his power, or was he going to save the face and losses of the big boss, Xia Yu? There was no doubt about this determination, and there was no need to confront him at this time.

The big boss can spend a lot of money to save face, but they don't have the capital to fight, and there's no point in fighting a pointless battle and getting into trouble.

...

Amidst the chaos, in an ancient castle far away in London, after listening to a report from his subordinate and dismissing him, Jacob Rothschild remained expressionless and silent for a long time.

'Jacob, I never thought it would turn out like this. It seems we're out of luck,'

Evelyn Rothschild, sitting nearby, shook her head and sighed, feeling a great sense of regret.

Jacob Rothschild came back to his senses and said thoughtfully, 'No, Evelyn, don't you think this is too much of a coincidence?'

'We've only been operating for a few days when something goes wrong. Although it was the others who discovered the bug first, it was the Nine Tripods Newspaper Company's Daily News that exposed it first.'

Evelyn Rothschild was taken aback, and then fell into deep thought.

After a long while, he slowly nodded and said, 'You're right, it is indeed too coincidental. Could it be that he discovered something? Our people left after installing the bug and did not return to check from a distance. Logically, Xia Yu would not guess that it was us.'

Jacob Rothschild shook his head and said, 'That's not necessarily the case, but it's useless for us to speculate here. Things have already gone so badly.'

'Although it is a bit regrettable, let's just let this matter rest. Xia Yu is already on his guard. Xiangjiang is his stronghold. We have no advantage, whether it's on the surface or underground.'

Evelyn Locher also agreed with Jacob Locher's decision, but thinking about what his subordinate had just reported about the two telecommunications companies, he added, 'Jacob, it's now clear that Jiuding Securities is targeting the two telecommunications companies, and it looks like he wants to eat them up.'

'It's even more difficult for us to interfere with Hong Kong Telephone Company, but we can still influence Cable & Wireless, do we need to intervene?'

Jacob Rothschild thought for a moment, then shook his head and said, 'Forget it, this matter no longer concerns us. Let's just pretend we don't know. Let him strengthen his position as much as he likes. After all, the two telecommunications companies in Hong Kong are limited by market reasons and their revenue-generating capabilities are average. His strengthening will be limited to Hong Kong.'

'Besides, Xia Yu does have connections in the UK. There is a risk that what we have done will be leaked, so there is no need.'

'Well, it seems that we can only watch as his power strengthens again...' Evelyn Lochiel sighed, then got up and walked outside.

Jacob Lochiel glanced at the documents on the table, shook his head after taking his eyes off them, then got up and left.

Since things had already gone sour, there was no need to think about it anymore, and it was better to use the limited time to help the Lochiel family rise again.

...

The Governor's Office of the Hong Kong Government.

MacLehose sat expressionless at his desk, his hands crossed, elbows propped on the desk top, slightly tilting his ear to listen to the secretary's report.

'...Now there is a large crowd of reporters outside the Hong Kong government, and many people are clamoring outside the Hong Kong government, calling on the Hong Kong government to discipline the two companies and protect the public's right to privacy. That's what happened.'

MacLehose nodded slightly, thought for a long time, picked up the phone and tried to dial a number, but his movements suddenly froze, and he then put the receiver back down.

The subordinate standing in front of MacLehose's desk raised an eyebrow, realising that his boss was still annoyed that he was being monitored.

Sure enough, he then heard MacLehose's order: 'Go and notify the heads of the Press and Publications Department, the Audit Commission and the Department of Justice to come to my office.'

The subordinate immediately promised and then left quickly.

An hour later, the Hong Kong government summoned all the reporters at the gate to enter the press conference hall, where the top Hong Kong government officials, led by MacLehose, sat on the press conference platform.

'Quiet, an emergency press conference will now be held on issues related to the telecommunications industry in Hong Kong. Questions will be answered in order. If you disrupt the order of the meeting again, please leave!'

After a cadre at the far end of the platform finished speaking, the originally noisy meeting immediately quieted down.

'Okay, this reporter, please ask a question!'

The reporter sitting in the front row who was called on was the reporter from the 'Wind and Cloud Daily'. He was a middle-aged man who immediately stood up and asked a sharp question: 'Respected Governor, the Hong Kong Government is a shareholder and supervisor of the Hong Kong Telephone Company and the Hong Kong and Shanghai Telephone Company Limited. Now that there are problems with these two companies, and they have even monitored the phone calls in your office. I wonder what your views are on this?'

Goodness, this is the kind of question that comes right away, which made MacLehose feel a little embarrassed.

But there were so many reporters in front of him, so MacLehose suppressed his displeasure, put on a stern face, and said in a righteous tone, 'First of all, on behalf of the Hong Kong government, I would like to apologize to all Hong Kong citizens. Due to the government's lack of supervision, such a big problem has occurred. The government has the responsibility and obligation to bear the corresponding responsibility.'

'The right to privacy is a right that everyone has. After the press conference, the Hong Kong government will arrange for the Audit Commission, the Department of Justice, the Trade and Industry Department and other departments to investigate the two telecommunications companies involved.'

'Next!'

'Mr Governor...'

...

An emergency press conference lasted more than 30 minutes.

After the press conference ended, the Hong Kong government's investigation team also officially set off, entering the two companies separately and launching extremely strict inspections, which immediately caused panic among the staff of the two companies.

And major journalists also spread the content of the press conference, mainly the attitude of the Hong Kong government, and with a special broadcast on Global TV, the news immediately spread throughout Hong Kong.

Such unfavourable factors triggered a further decline in the share prices of Hong Kong Telephone Company and Cable & Wireless Hong Kong Limited.

Just when public opinion was captivated, Wang Qi was already sitting in the office of Sir Lawrence Kadoorie.

Looking at the 81-year-old, grey-haired British man in front of him, Wang Qi went straight to the point and said, 'Sir Kadoorie, I think you know the purpose of my visit. I hope to acquire the shares of Hong Kong Telephone Company held by your family.'