Capítulo 1521: Chapter 1521: Cutting losses!
International hot money poured into Sweden like crazy, and the main destination for the funds was of course the stock market.
And for the stock market, it was just one word—speculation!
This opportunity was just right for Kirin Capital to flee with its funds.
The main pressure to flee came from ABB, AstraZeneca, Ericsson, and Atlas Copco.
The combined value of all the other targets was just over 20 billion Swedish kronor.
Very quickly,
the Wallenberg family felt the pressure.
The main reason for the high daily trading volume in the stock market before was that the stock prices of almost all companies had risen sharply, and the same number of transactions involved a much larger amount of capital.
Moreover, as the turnover rate of the stocks fell, the overall trading volume of the entire stock market fluctuated within a certain range despite the rise in stock prices.
However, as Kirin Capital began to ship out the huge amount of accounts, the turnover rate began to soar.
With high stock prices and a high turnover rate, the real-time trading volume also began to soar.
For the Wallenberg family, the most obvious change was that the difficulty of competing for bids had decreased significantly, and the rate of executed buy orders had increased substantially.
Naturally, the funds were also quickly depleted.
This abnormal phenomenon was the first thing Peter Wallenberg, who was stationed on site, knew about.
But in order to figure out the situation, he first had to find out the identities of the many sellers, something that only the stock exchange could find out.
Therefore, he immediately found his younger brother, André, and asked him, as the chairman of the stock exchange, to find someone to investigate immediately.
In the meantime, faced with the situation of rapidly depleting funds, he could only grit his teeth and hold on, for fear that one oversight on his part would allow the enemy's shareholding ratio to rise sharply, thereby threatening the family's actual control over some listed companies.
After all, the Francisco family's blood has not yet dried up!
About twenty minutes later.
In the market monitoring department of the Stockholm Stock Exchange.
Facing the investigation situation reported by his younger brother, André, Peter Wallenberg frowned and said discontentedly, 'André, even you can't figure it out?'
Andre Wallenberg glanced at the trembling head of the monitoring department, Uliah Jefferson, and replied helplessly: 'Peter, with our functions and powers, if we want to investigate carefully, of course there is a high probability that we can find out, but it will take a long time!'
'Many years ago, when electronic trading had not yet been widely promoted, the trading rate of stocks was low and the speed was slow, so it was not difficult to investigate. But now that it is electronic, the trading frequency is too fast, and the concealment is far greater than in the past.'
'The companies involved in some of the accounts we have found so far are obviously shell companies. The transaction data is also very complicated, with buying and selling intertwined, and even interspersed with offline transactions. You should understand the difficulty of this investigation better than I do. After all, this is a common means of malicious sniping and acquisition.'
Having said this, he paused for a moment and waved to Yulia Jefferson, who was standing nearby: 'Yulia, you go ahead and get started. Close the door on your way out.'
'Yes, Chairman.'
Ben, who had been feeling uncomfortable, fled from the office quickly, closing the door behind him.
Only then did Andre Warburg continue, 'With the current fierce trading situation, we can't think about whether the enemy is shipping, and we can't gamble on the probability.'
'According to the investigation just now, although the stock turnover rate of these companies has soared, there are more bidders other than us.'
'This means that we have many enemies!'
'Perhaps, the ultimate controlling party behind the accounts participating in the bidding is Bright Fund.'
'Bright Fund has acted unusually this time, making a high-profile announcement that it will invest in Sweden in the near future. It is hard to say whether the funds have already come in advance.'
These words made Peter Wallenberg frown and feel extremely agitated, so much so that he couldn't help pacing back and forth.
Yes!
We can't take this risk!
The financial war is a mixture of truth and fiction, and some information is so ridiculous that no one would believe it.
In the current situation, there are enemies everywhere, and the situation of each company is different, so that the enemies of each company are also different.
It is even possible that in the past few days, the same company may have faced several changes in its enemies.
How can you tell which enemies are fatal and which are not?
Perhaps an organisation originally just wanted to make money, but then discovered that the number of shares acquired was beyond imagination, and the strategy was changed.
People's minds are not set in stone...
Suddenly.
Peter Wallenberg stopped pacing, looked sharply at his brother André, and suddenly asked, 'André, do you think we can take the initiative to contact the Bright Foundation and sell our stake in the National Westminster Bank to them?'
Andre Wallenberg's eyebrows twitched in surprise. After seeing Peter's serious expression, he couldn't help but think deeply for a while before cautiously asking, 'Are you trying to withdraw capital while depleting part of Bright Foundation's working capital?'
'That's right!' Peter Wallenberg nodded.
'The acquisition of National Westminster Bank has failed anyway, and no other forces are willing to intervene. The stake we hold is too embarrassing, tying up our capital.'
'The Bright Foundation doesn't care about us for the time being, and it's definitely not because they don't want our shares. Most likely, they want to take over our shares while we're weak.'
'According to the ideas we discussed before, let's see if we can make peace with the Bright Foundation.'
'Since this investment in shares has failed, we have to accept the loss, otherwise we will only lose more in the future.'
'Even if we can't convince them, at least we will free up our funds.'
'In the current situation, our financial pressure is too great. Sigh...'
After a moment's thought, André Wallenberg supported Peter Wallenberg's idea: 'Peter, you go ahead.'
...
Wise people know how to make choices, and can enjoy the joy of victory with an ordinary heart, and can also accept failure with an open mind.
At the critical moment, Peter Wallenberg acted very quickly and personally called George Berkeley.
When he received the call, George Berkeley was very surprised. After hesitating for a moment, he expressed his willingness to negotiate, as long as the price was right.
As for Peter Wallenberg's implicit suggestion that he hoped to become friends with the Bright Foundation, George Berkeley did not give a clear answer, saying that he would have to see the sincerity of the Wallenberg family.
We'll talk about this later!
Peter Wallenberg was prepared for this, but he was still a little disappointed.
Judging from the conversation, the Wallenberg family was not Italy during the Second World War, and Bright Foundation was not the Allies.
It was a pity... Despite the disappointment, business went on as usual.
But business that comes knocking on the door is destined not to fetch a good price.
In an extremely passive situation, Silver River Group backed down step by step in the face of Bright Foundation's sharp price cuts.
An agreement was reached that day.
It was just a bit low.
The Bright Fund invested 876.3 million pounds to acquire the 16.29% stake in National Westminster Bank held by Sweden's Silverada Group.
Compared to the 1.124 billion pounds it cost to acquire it before.
It was less than two months.
Silverada Group lost nearly 250 million pounds in this investment!
Oh, no!
When the Silver Lake Group withdrew funds from the country to make the acquisition, the exchange rate of the Swedish krona to the US dollar was above 6.5, but now it has fallen to around 5.3.
If this capital of £876.3 million is to be transferred back to Sweden to support the company, it is estimated that it will only be worth 7 billion Swedish kronor in the end after being converted into Swedish kronor, resulting in a net loss of 4 billion Swedish kronor, a loss rate of 36.4%!
Tearful and painful!
It's definitely a big sucker!
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