Chapter 1511: Taking advantage of a fire to loot

'That's right!'

'Other companies are not the same as the Bilbao Bis Bank. Now that the bank's capital chain is in trouble, if the enemy enters the company, it will be difficult for us to defend.'

Saren Francisco nodded with a grave face and an extremely heavy tone of voice.

'Cousin, I asked you to come here because I want you to lead the other clan members in taking charge of this matter. The top ten shareholders of each company should confirm the ownership situation as soon as possible.'

'If there really is a shareholder who has betrayed us, even if someone doesn't admit it, the problem can always be found.'

'Even if we have to give up some companies, we should give up the ones that are more difficult for us to defend as much as possible, and try to minimise the losses!'

The old woman took a deep breath and then got up: 'Okay, I'll take care of this. I'll investigate as quickly as possible and gather a think tank to analyse and formulate the best plan to stop the losses.'

'As for the Banco Bilbao Vizcaya, I'll leave it to you!'

...

An entire morning passed.

The Francisco family had not yet figured out the situation of all the companies.

However, the stock prices of all the listed companies continued to fall.

Although according to the strategy of the think tank,

Each listed company issued a statement, severely condemning the malicious attacks of the financial bandits and claiming that the company's operations were very healthy and the management was formulating a stock repurchase plan.

However, this kind of empty talk, without any actual market rescue actions, had minimal effect.

The elites in the financial institutions gathered together, and these statements could deceive the ignorant investors, but not them.

The problem originated with the Banco Bilbao Vizcaya Argentaria and the entire Francisco family's financial chain.

These listed companies still want to save the market?

It is questionable whether the funds in the corporate accounts opened with the Banco Bilbao Vizcaya Argentaria can be withdrawn at the moment, let alone the funds to repurchase shares.

Do you expect these investment shareholders without management rights to sacrifice themselves for others?

Don't even think about it!

On Monday, the entire Francisco family spent the day in agony.

Even though the Banco Bilbao Vizcaya Argentaria had returned the deposits of 14 companies, including Coca-Cola.

But Xia Yu's media empire never lacks material!

And it certainly doesn't lack news pages!

Without Coca-Cola, there are still some other small and medium-sized companies that are not on their side that take the lead.

The main point is to adapt to local conditions and flourish everywhere.

All kinds of local newspapers, TV stations and radio stations are all out!

All kinds of negative public opinion is still overwhelming, drowning the Banco Bilbao Vizcaya Argentaria.

As a result, during working hours, the various branches of the Banco Bilbao Vizcaya were full to bursting, with long queues of people withdrawing their money.

Even though Sarón Francisco had put in 200% effort, begging and pleading with everyone to raise funds, he managed to get just over 700 million US dollars.

However, the loss of funds that day still reached 1.8 billion US dollars.

When Francisco Salán came home after work, he felt like fainting when he saw the figures reported by his subordinates: the entire bank had less than 600 million dollars in liquid funds.

Less than 600 million dollars!

While he was asleep, depositors in the other hemisphere could have withdrawn all that money!

Although some investment assets were being disposed of quickly, this was also very difficult, and the buyers were all aware of the weaknesses of the Banco Bilbao Vizcaya Argentaria, and were making increasingly fierce offers.

This is not a solution, and we will definitely be worn out!

Just when Saren Francisco was at his wit's end and full of anxiety,

he received a phone call from the general manager of Wells Fargo Bank UK.

The purpose was very clear.

They wanted to acquire the shares of the Schroder Group held by them.

Without hesitation, Saren Francisco agreed and arranged to meet directly that evening.

After hanging up the phone, he called a few subordinates and immediately drove to the meeting place.

...

The interesting thing is:

Sallén Francisco and the others arrived on time.

But the Wells Fargo delegation had not yet arrived.

'Chairman, it's already 7:00 p.m. sharp, and the Wells Fargo people are late,'

the subordinate said, looking at his watch and whispering to Sallén Francisco, who was closing his eyes to rest.

The latter did not open his eyes, but his face twitched slightly, showing his inner unease.

'Wait a little longer!'

After spitting out a few words, Saren Francisco did not say anything more.

In the past, in the face of the general manager of a mere British company of Wells Fargo, he would have definitely turned his face and left, but this was not the same as before, so he could only bear it.

Another two minutes passed.

Finally, there was a series of footsteps outside the door. He immediately opened his eyes and straightened his clothes, trying to look more alert.

The four subordinates who had come with him immediately followed suit.

'Creak...'

As the door opened, a group of men in suits walked in.

The handsome middle-aged man with blond hair at the head of the group was none other than Simon Phil.

He smiled apologetically and said, 'Mr. Francisco, I'm sorry, there was a traffic accident on the way, causing a traffic jam. I'm a few minutes late, please forgive me.'

'That's fine, we just got here too,'

said Salen Francisco with a smile.

After another smile and greeting, Simon Phil led his subordinates to sit on the other side of the oval table.

'Mr. Francisco, on behalf of our company, I would like to express our sympathy for what has happened recently at your bank and hope that you will be able to overcome this difficult situation as soon as possible,'

Simon Fil said kindly as soon as he sat down.

However, these words sounded harsh in the ears of Saren Francisco, but he had to force a smile and say thank you: 'Thank you, our bank will definitely be able to overcome this difficult situation. We already have a practical solution in place.'

Simon Fil smiled indifferently and then began the official negotiations.

'Mr. Francisco, I think you must be in a hurry, so let's get started. Here is our company's acquisition proposal.'

He then made an inviting gesture.

His subordinates sitting on either side of him immediately handed over the prepared materials, one copy each.

Saren Francisco and the others immediately opened and read them.

The content was not complicated.

Apart from the evaluation of the value of Schroder Group's shares, it also reported the intended price of the acquisition and some other fixed contents of the acquisition agreement.

However, the price on this document was unacceptable to Saren Francisco.

£0.9 per share!

'Mr. Simon, your price is outrageous!'

Without reading the other contents, Saren Francisco directly and discontentedly snapped at the sight of this acquisition price.

You have to know that when they first acquired the company, even though the share price of Schroder Group had plummeted due to its failure in the Hong Kong capital market, their starting price for the acquisition was still £1.46 per share.

But later on,

due to strong competition with Bright Fund,

the share price of Schroder Group rose against the trend.

It once rose to more than £3 per share.

This caused the average cost of the 109.76 million shares they acquired to be as high as £2.57 per share!

Now Wells Fargo is offering 0.9 pounds per share, which is equivalent to 35% of their cost!

Almost a third of the price!

If they agree,

they will lose more than 183 million pounds!

It's definitely robbing them while they're down!

Phil Simon of course knew he was robbing them while they were down, but he flatly denied it, shaking his head solemnly and saying, 'Mr. Francesco, we are not robbing them while they're down.'

'You should know that the Schroder Group has suffered heavy losses in the Hong Kong capital market and has also lost many important customers. This year's development is expected to be lower than next year's.'

'The reason for the previous rise in the share price was because you were bidding against Guangming Fund. At that time, the share price was not representative, and our assessment was based on the actual situation.'

'You are no longer bidding against Guangming Fund, and the share price has also fallen. Sooner or later, it will return to normal levels in the future.'

'So you shouldn't consider your acquisition cost, but should make a judgment based on the actual situation.'

'The price of £0.9 per share is very reasonable!'

Sallon Francisco shook his head very firmly: 'Before, other companies also wanted to buy our holdings in Schroder Group, and the price was much higher than yours!'

'In that case, I might as well sell these shares to someone else!'

Phil Simon smiled inexplicably: 'Mr. Francisco, you may have underestimated our intelligence capabilities.'

'The acquisition of Schroder Group is also a huge whirlpool, involving capital giants from all sides. No company dares to intervene.'

'And given the current state of Europe's capital markets, I think as long as the people at the helm of financial institutions are not confused, they will definitely choose other, more profitable paths, rather than jump into this whirlpool without thinking.'

'Not every company is like our Wells Fargo.'

'At a price of £0.90 per share, the value of the shares you hold is nearly £100 million, or $180 million in US dollars. I think you need this money now!'