Hollywood Hunter

Remember in one second [End of the God Station] Mobile phone user input address: m.xinwanben.com

Arriving in Berlin on February 10, Simon did not leave for Finland until the afternoon of February 12.

In two and a half days, in addition to cheering for the opening ceremony of the Berlin Film Festival, Simon also negotiated with Deutsche Telekom about the intention of cooperation in the Internet industry, and received the tentative name of the film industry, which has produced a series of classic films in the original time and space. .

As for the contacts with Konstantin executives, BMW's Covant family and even high-level German government officials, all parties have initially established contacts and did not immediately start cooperation.

February 13th is Saturday.

Because of the adjustment of the original plan, Nokia management had to give up the rest time on weekends to match Simon's schedule.

Just past 1992, relying on the transformation of global mobile communication from the analog signal era to the digital signal era, Nokia, which completed the layout of the second-generation digital communication technology ahead of schedule, achieved a leap-forward development.

According to the recent financial report, Nokia achieved a total sales of 9.3 billion Finnish marks in 1992, which is equivalent to 1.47 billion US dollars according to the exchange rate of Finnish marks to the US dollar about 1 to 6.3 in the past year. Compared with 1991, the turnover has increased by 67%.

Of the total sales of 9.3 billion Finnish marks, Nokia mobile phones accounted for 56%, reaching 5.2 billion Finnish marks.

This portion of sales represents 3.76 million mobile phones.

In comparison, Motorola, which temporarily ranked first in global mobile phone sales, sold only 4.39 million units in 1992.

In the original timeline, Nokia has been chasing Motorola in the first half of the 1990s. It was not until 1998 that it achieved the overtake of Motorola, and then completely left the old electronic giant far behind.

This time, because of Simon's advance layout, the gap between Nokia and Motorola in 1992 was already very small.

With the opening of the North American market to Nokia at the end of last year and the sales channel of Verizon, which is owned by the Westeros system itself, Nokia is enough to break into the toughest part of the North American market this year, fighting Motorola hand-to-hand and at the same time. , In Europe, Nokia has a local advantage compared to Motorola.

Coupled with the accumulation of Nokia ahead of Motorola in gsm technology, it is no surprise that Nokia is enough to overtake Motorola in mobile phone sales this year.

Of course, it is only a mobile phone. Motorola now has a deep foundation in many fields such as computers and semiconductors. However, it is precisely because of this diversification that Motorola's rebound is not expected to be too intense for Nokia's overtake in the field of mobile communications. Therefore, it is impossible for the company to know how large a market they have missed.

You know, in 1992, there were only 13 million mobile phone sales worldwide, but within the next five years, this number will exceed 100 million. In less than ten years, with just Nokia alone, the sales volume of mobile phone equipment will exceed 100 million.

Compared with the fast-growing receivables, Nokia's annual loss in 1992 was 380 million Finnish marks (equivalent to 60 million US dollars), but this was actually because of Simon's expansion-oriented development strategy.

Simon bought Nokia at a price of $200 million three years ago. In recent years, he has continuously injected more than $300 million in capital, with a total investment of more than $500 million, in exchange for Nokia's 1992 revenue of $1.47 billion.

According to Nokia's $1.47 billion revenue scale and high annual growth rate, if it goes public, the company's market value is conservatively estimated to exceed $2 billion.

The Westeros company holds 100% of Nokia's shares, with an investment of $500 million in three years, in exchange for a market value of $2 billion. This return on investment is enough to make most investment funds envious.

Relying on blood transfusions from Daenerys Entertainment, Cersei Capital and other companies, the Westeros system has never been short of money, and even if Nokia still needed a lot of extra money in 1993, Westeros can fully afford it.

However, Nokia has now shown the edge to catch up with the old Motorola company. Next, the company needs to face more than simple commercial obstacles if it wants to continue its rapid expansion.

Whether it is the European countries that are close to each other, or North America, which is already afraid of Europe on the other side of the ocean, realizing the rise of a giant in the communications industry that has little to do with itself, it is almost conceivable that Nokia may encounter the almost instinctive suppression of various countries. .

If you want to resolve this help to the greatest extent, the easiest way is for Nokia to operate ipo.

Through the listing, Nokia shares are sold to investors from various countries in Europe and North America, and they have interests. If anyone wants to suppress Nokia, they need to consider whether they are attacking the interests of their own investors.

For Simon, having Nokia listed in North America was naturally the best option.

However, as a company headquartered in Finland, most of its business is now in Europe, Nokia's most important problem now is to stabilize its base in Europe.

In this way, listing in Europe is the best option.

Simon came to Finland to discuss the listing with Nokia's management team in person.

No matter its development speed or financial data, Nokia is the most high-quality IPO object for major capital markets, and it is not a big problem to seek listing.

The key is the valuation at the time of the IPO and the question of how much equity to sell.

For Simon, it is natural to give up as little equity as possible. However, if the number of issued shares is too small, it is likely that the real purpose of this IPO will not be achieved. If the number of issued shares is too large, it will inevitably feel distressed.

After all, the current Nokia IPO valuation is probably only about 2 billion US dollars.

Such a valuation is already very impressive in the eyes of many people, but Simon is clear that in memory of the peak of the new technology wave around 2000, Nokia's market value was close to 200 billion US dollars.

2 billion, for 200 billion, giving up $100 million now may mean a loss of $10 billion on paper in a few years.

What's more, because the Westeros system itself has sufficient funds, Nokia does not need to borrow too much money from the outside world.

After a full day of consideration on Saturday, Simon finally decided to set the proportion of new shares to be issued at 20%.

At Nokia's current valuation of about $2 billion, issuing 20% ​​of new shares can raise $400 million. However, if calculated according to Nokia's peak market value of $200 billion in Simon's memory, this equity means $40 billion. .

Of course, things don't work that way.

If Nokia continues to be fully privatized and the company's interests are not tied up with the capital of European and American countries, then, under the pressure of all parties, Nokia may not be able to reach its former peak.

Therefore, this 20% stake is actually just the beginning.

Simon plans to gradually reduce his stake in Nokia in the next few years, and it is enough to only pursue an absolute holding of 51%.

Because of the differences in relevant laws in European countries, this time Nokia and Simon do not intend to use multiple shareholding structures like AOL and Cisco.

In fact, it was probably the memory of Nokia's crash that impressed Simon so much that he had no idea of ​​permanently controlling the company.

Or, Simon has no intention of permanently controlling any company within the Westeros system.

Rise and fall is a historical inevitability. No company, no matter how brilliant it was, can escape this fate.

Therefore, for companies in the Westeros system, whether it is Microsoft, Cisco, AOL or Hollywood's Daenerys Entertainment, as soon as a company is found to be declining, Simon will exit as early as possible, while investing capital in new field.

On the other hand, although it was decided to list on the London Stock Exchange in the United Kingdom this time, in discussions with the Nokia management team, Simon also prepared a North American roadshow plan, intending to invite North American capital to enter London to participate in the subscription of these 20% new shares.

After spending a day in Finland on Saturday and negotiating a rough plan for the Nokia ipo, Simon flew to Florence, Italy that night.

The main framework is determined, and the follow-up matters will be followed up by James Raybould and the Westeros team. From the initial IPO declaration to the final listing, it is expected to take half a year, and it is expected to be in August in the second half of the year. officially completed.

Florence.

The time is Sunday morning.

Sophia Fisher woke up first, took off the man's arms gently, entered the bathroom, and saw the strawberries around her neck in the mirror. some satisfaction.

After preparing the breakfast in person, the man also completed the routine morning exercise and sat down at the dining table together.

At the end of February, the four major fashion weeks of 1993 will open one after another, and Gucci has been preparing for the upcoming spring show recently.

After breakfast, the two rushed to the headquarters of Gucci in the city.

While admiring Gucci's upcoming fashion week, Sofia introduced Simon to the business situation of Melisandre's company in the past year.

The official detailed financial report will not be released until next week. Simon just listened to a general idea, but he can confirm that Melisandre has just passed a year, and the financial data is also very gratifying.

Because of the excellent financial data, during lunch, Sophia talked about another acquisition plan that surprised Simon.

"Christie's? You mean, the auction house?"

Sitting in a historic Italian restaurant in downtown Florence, Simon was a little surprised when he heard Sofia's name.

Sophia nodded and said, "Yes, Christie's."

Having said that, noticing that the man's expression was a little weird, Sophia asked, "Is there any problem?"

Simon quickly smiled and said, "It's nothing, it just feels a little weird."

"Um?"

"Look," Simon smiled even more and said, "In the future, when my children grow up, it will be very advantageous to compare and show off with friends. Others may be able to say that my mother just bought a Gucci handbag, and my father I spent $10 million on a painting at Christie’s, and my son can say, Gucci is my home, and Christie’s is my home.”

Sophia imagined the scene Simon depicted, and couldn't help laughing, saying, "Your son only needs to say that my dad is Simon Westeros."

Simon nodded sympathetically: "Well, indeed."

Sophia rolled her eyes at Simon and said, "So, you agree?"

Simon waved the tableware and gestured lightly, and said, "I don't know anything about Christie's or even the auction industry. Also, why would such an established company choose to sell it, and the approximate price?"

Sophia said: "If it was in the past, we would

There is really no chance to buy this company, Christie's has a history of 200 years. However, you also know the economic situation in recent years. Japan has risen in the 1980s, and the North American economy has continued to rise. The world's major auction houses have been very happy. However, since the North American stock market crash in 1987, due to the continuous economic crisis, rich People started to cut back on spending, the Japanese stock market bubble burst, and Asia's new market with huge potential was quickly weakened. The auction industry also has a Matthew effect. Christie's has about 30% of the auction market in the past few years, which is lower than the listed 40% of Sotheby's. However, these two auction houses occupy more than 70% of the auction market. The performance gap is huge. "

Having said this, Sophia paused, sorted out the information in her mind, and continued: "In the past year, Sotheby's made an annual profit of 265 million US dollars, while Christie's only made 52 million US dollars. The market share of the two companies is not different. To 10%, the profit is five times different. The market shrinkage in North America, Europe and Asia has not stopped, and it is worried that this situation will continue, and Christie’s has released the wind of seeking a sale.”

The North American stock market began to recover after the Gulf War, but the overall economic situation is still not optimistic. Japan in Asia is now going downhill, and the Japanese billionaires who bought the world have also stopped. Last year's pound crisis caused European countries to fall into a state of economic crisis. In this way, the world economy is at its lowest level in the last decade.

Simon is more aware that this is also the lowest state in the next decade.

Christie's is worried that the auction industry will continue to reshuffle, and eventually the original state of Christie's and Sotheby's will be transformed into the dominance of Sotheby's. This worry is not unreasonable.

With the weakening of the market, the rich who still have the ability to buy expensive collectibles will obviously only tend to the more powerful one, which will only make Sotheby's stronger and stronger. Christie's wants to maintain its market share. Taking measures such as reducing commissions or increasing marketing expenses will further compress their profit margins. However, doing so will not necessarily improve the operation of this auction house, but will make the gap between him and Sotheby’s more and more. big.

Christie's wants to get rid of this dilemma, the most crucial point is that the auction market can be prosperous again.

However, seeing that the global market is in a downturn, although everyone knows the economic cycle, no one knows whether Christie's can survive this downturn.

In this case, choosing to sell oneself is not surprising.

For Simon, this is the best opportunity.

Because no one knows better than him that with the rise of the new technology wave, the global economy will recover rapidly in the next few years. At the same time, although the Japanese economy will fall into a long-term downturn, Asian countries, in the next two decades, will also be affected by With the rapid economic growth, it has become a consumption upstart in the collectibles industry.

Buying Christie's now would definitely be a great bargain hunter.

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