Chapter 1610 It's Inappropriate to Invest in Railways

"Have you ever thought about the possibility of ZF calling out a high price in order to make up for the loss?"

Yang Cheng questioned.

Beatrice stared at her beautiful big eyes, "What? Are they crazy? Now that someone has stepped up to take the offer, they should be grateful instead of asking for a higher price."

"Don't be so naive, I'm too embarrassed to ask how dark your Italian ZF is~"

Come to think of it, what is Italy most famous for? It's not the beautiful Lake Como, it's not the passionate football, it's not Milan Fashion Week, it's mafia!

The reason why the mafia is so famous today is inseparable from the Italian ZF. A ZF that can accommodate the existence of the mafia, and even do business in partnership, how clean can it be?

Beatrice had a deeper feeling about this, but it was somewhat embarrassing to be pointed out by a foreigner like Yang Cheng.

"Well, let's not talk about whether ZF will help you. The Borromeo family will stand by your side. All reasonable demands you make will be supported by the representatives of the National Railway Company during the negotiation. This is my A promise to you."

It seems that for the sake of her husband, Beatrice also counted the capital, and did not hesitate to use the family resources, but I don't know how much she paid behind the scenes. Don't naively think that the surname is Borromeo, and you can use the family resources at will. It is absolutely impossible.

Yang Cheng didn't say whether he agreed or disagreed, but counted with his fingers, "Layoffs, self-payment of debts, cleansing of the board of directors, reorganization of management, are you sure you can agree to these terms? I think the ZF may not agree to any of them."

"Damn~ you're asking too much~" Beatrice said angrily.

Yang Cheng didn't take it seriously, and said easily, "This is just the general direction, I'm afraid there are more details, and it's a buyer's market now, didn't you have no way to find me?

Seeing that Alitalia is a big pit, there are not many idiots who still jump down, unfortunately, maybe I am one~”

Although he compared himself to an idiot, Beatrice would never really treat Yang Cheng as an idiot, and said with a wry smile, "You should give ZF a little sweetness, otherwise they would rather choose to go through bankruptcy procedures and sell their assets to pay off their debts."

Yang Cheng spread out his hands, "It's a good choice, everyone wash up and sleep, why kill more people for a huge pit~"

Beatrice pressed her head with a headache, "Tell me, what do you want to start negotiations with sincerity~"

Yang Cheng thought for a while, "Does the National Railway Company shares you mentioned before count?"

Beatrice affirmed, "Of course, the Italian national railway company is starting the privatization process. This is the first state-owned railway company to promote privatization on the European continent. It is expected to take 40% of the shares and sell them to private companies. .”

In other words, there will be no obstacles in the policy, and this will be easy to handle. Before Yang Cheng was worried that the government would not agree to sell the shares of the state-owned railway company to private holders. Now Beatrice's words dispelled his biggest concern. concern.

"Tell me about the specific situation? About the National Railway Company."

Beatrice put down her wine glass, stood up and hugged her shoulders while organizing the language, "During the privatization reform of the British Railways, the entire railway system was divided into 100 separate units for sale~"

Yang Cheng interrupted, "Wait, didn't you say that Italy was the first country to promote the privatization process?"

Beatrice clenched her fist and slapped Yang Cheng, "Listen carefully, what I said earlier was the first country in continental Europe~"

Yang Cheng waved her hand embarrassingly, "Sorry, you continue~"

"Unlike the reform proposal in the United Kingdom, SNCF will continue to maintain a fully integrated railway, and at the same time, the privatization of Trenitalia will not create obstacles for other operators and will continue to provide services to all operators.

The overall plan includes two projects: one is to sell part of the power supply network to Energia Italia, a private grid operator in Italy, and our family holds shares.

At present, the two parties are negotiating on the medium and high voltage power grids throughout Italy, and the results have already been obtained;

The second is to split GS and sell part of its business. GS is a subsidiary of the Italian National Railway Group and is responsible for managing the 13 largest railway stations in Italy.

According to the plan, GS Company will be divided into three parts: GS Railway, GS Retail and GS Real Estate according to business. Among them, the retail business will be sold. This is where we can operate. We will acquire GS Railway and GS Real Estate, and then share In the way of replacement, the operation right is handed over to the national railway company, which is converted into shares of the national railway company according to the market value. "

Yang Cheng went through it in his mind, and felt that there was basically no problem with this plan. He nodded and said, "This plan is all right, but there shouldn't be a profit problem for Italian Railways, right? Why did they implement privatization?"

Beatrice sat down again, this time she was a little closer to Yang Cheng, and she could feel the heat of Beatrice's body on her calves.

"You are wrong, it is just that there are some problems in the profitability. In 2014, the annual operating income of the National Railway Group increased by 0.7% to 8.4 billion euros, and the gross profit increased by 3.9% to 2.1 billion euros.

However, net profit after tax fell by 19.8% to 659 million euros due to multiple factors such as increased operating costs, depreciation and currency depreciation.

This situation became more serious in 2015, with net profit falling by more than 30%, to less than 400 million euros.

However, the railway group has also made a reformed investment plan. The first thing to bear the brunt is to merge into the National Highway Group. After the merger of the two groups, the income will double.

In addition, after privatization, the National Railway Group will further enhance the competitiveness of the enterprise and improve the efficiency of transportation operations.

And in-depth management and development of the domestic market, mainly in several key cities, such as giving priority to increasing the transport capacity of Milan, Rome and Naples to serve commuters, and actively responding to the competition of high-speed railways.

Purchasing new high-speed trains to strengthen competitiveness within Europe, the group's goal is to enter foreign high-speed passenger transport markets such as France and Belgium by 2018. "

Yang Cheng felt that the plan was too big, and the bigger the plan, the more likely there would be loopholes. Only from Beatrice's few words, she couldn't see the problem, but Yang Cheng didn't dare to take it lightly.

Don’t expect big returns when investing in traditional state-owned enterprises. Just like investing in the UK’s infrastructure sector, what you are looking for is long-term and stable profits, which is a conservative investment.

Although eggs must be placed in different baskets to ensure that the investment will not lose money to the maximum extent, is it really necessary to invest in the infrastructure fields of the UK and Italy at the same time?

Yang Cheng suddenly had the idea of ​​backing off, Alitalia can have it, aside from other things, just the share of the Atlantic route and the take-off and landing slots of Heathrow Airport are worth a gamble for Delta Air Lines, of course, no matter how bad it is , Alitalia still has a dominant position in the sky over the Apennine Peninsula. At worst, simply define Alitalia as a low-cost airline, and face-to-face collision with Ryanair and other companies, it is really hard to say who will win.

Anyway, as an important tourist market in Europe, Italy has no shortage of tourists, but because of the sluggish economy, tourists are more willing to choose low-cost airlines with lower prices. As long as resources are integrated and an appropriate number of employees are retained, It is not difficult to regain the direction of profit.

Therefore, it is not other people that really hinder Italy's return from the dead, but the ZF and the trade union itself. They want too much and have not put themselves in the right position. Yang Cheng will not get used to problems with this, either listen to me or embrace it yourself To die with the glory of the past is as simple and rude as that.

Now that Alitalia is feasible to acquire, Yang Cheng can put forward targeted conditions. Before that, he thought about getting the shares of the National Railway Group, but after listening to Beatrice's introduction, he felt that it was not necessary.

Then another condition has to be changed. For example, in Italy's energy market, as a country with a shortage of natural energy, all energy needs come from imports, which gives people like Yang Cheng a chance to make decisions.

Want to buy oil? Buy natural gas? Yes, hand over part of the equity, and I'll sell it to you~

What do you disagree with? Then I won't sell it!

Does it sound naive, but this is the tragedy of a country lacking in energy, and it is still the kind that cannot be changed. There is no way, who told you not to?

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