Arrived in Berlin on February 10, Simon did not leave until the afternoon of February 12 to rush to Finland.

In two and a half days, in addition to supporting the opening ceremony of the Berlin Film Festival, Simon also negotiated with Deutsche Telekom for cooperation in the Internet industry, and won the tentatively named Film Industry, which produced a series of classic films in the original time and space.

As for contacts with Constantine executives, BMW Corvante family and even senior German government officials, they only established initial contacts and did not start cooperation immediately.

February 13 is Saturday.

Due to the adjustments to the original plan, Nokia management had to give up the weekend break and cooperate with Simon's schedule.

In 1992, Nokia, which has completed the layout of the second generation of digital communication technology in advance, achieved a leap forward in leapfrog development by relying on the transformation of mobile communications globally from the analog signal era to the digital signal era.

According to the financial report just recently, Nokia achieved a total sales of 9.3 billion Finnish marks in 1992, which was equivalent to US$1.47 billion based on the exchange rate of Finnish marks against the US dollar in the past year. Compared with 1991, its turnover increased by 67%.

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

This part of the sales represent 3.76 million mobile phones.

In comparison, Motorola, which temporarily ranked first in the world's mobile phone sales, sold only 4.39 million units in 1992.

In the original timeline, Nokia kept following Motorola in the first half of the 1990s, and it did not overtake Motorola until 1998, and then completely left the old electronics giant far behind.

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

With the opening of the North American market to Nokia at the end of last year and the Verizon Telecom, the Westeros system itself, this year, Nokia is enough to enter the hardest bone in the North American market and fight with Motorola. At the same time, in Europe, Nokia has local advantages over Motorola.

Coupled with Nokia's accumulation of GSM technology ahead of Motorola, no surprise, Nokia is enough to overtake Motorola in mobile phone sales this year.

Of course, it is just 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 fierce for Nokia's overtake in the field of mobile communications. Therefore, it is impossible for this company to know how huge a market they have missed.

You should know that in 1992, the global mobile phone sales were only 13 million units, but within the next five years, this number will exceed 100 million. In less than ten years, only Nokia will have a mobile phone equipment sales of more than 100 million.

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

Simon bought Nokia for $200 million three years ago, and in recent years, he has invested more than $300 million in a row, with a total investment of more than $500 million, which has earned Nokia's revenue of $1.47 billion in 1992.

Based on Nokia's revenue scale of US$1.47 billion and its extremely high annual growth rate, if listed, the company's market value is conservatively estimated to exceed US$2 billion.

Westeros has a 100% stake in Nokia, and a $500 million investment in three years has earned a $2 billion market value. Such a return on investment is enough to make most investment funds envious.

Relying on blood transfusions from companies such as Daenerys Entertainment, Cersei Capital, the Westeros system has never been short of money. Even if Nokia still needs a large amount of extra funds in 1993, Westeros can fully afford it.

However, Nokia has now shown its strength to catch up with the old Motorola. Next, if the company wants to continue to expand rapidly, it will not just face simple business obstacles.

Whether it is the European countries that are in a close relationship or North America, which is already afraid of Europe on the other side of the ocean, realizing that a giant in the communications industry that has no much connection with it has risen, it is almost imagined that Nokia may be subject to almost instinctive suppression by various countries.

The easiest way to resolve this aspect is to maximize the help, Nokia is to carry out IPO operation.

By listing, Nokia shares are sold to investors from Europe and North America, and have interests. If someone wants to suppress Nokia, he needs to consider whether it is a problem of cracking down on the interests of his own investors.

For Simon, letting Nokia go public in North America is naturally the best choice.

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

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

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

Nokia is the best IPO target for major capital markets, and there is no big problem in seeking listing.

The key is the valuation during the IPO and the issue of how many equity shares are sold.

For Simon, the fewer shares are given up, the better. However, if the number of shares issued is too small, it is likely that the real purpose of this IPO will not be achieved. If the number of shares issued is too large, it is inevitable that it will be distressed.

After all, Nokia's current IPO valuation is only about $2 billion.

Such a valuation is already very considerable to many people, but Simon knows that at the peak of the new technology wave around 2000, Nokia's market value was once close to US$200 billion.

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

What's more, because the Westeros system has sufficient financial reserves, Nokia does not need to withdraw too much money from the outside world.

After considering the whole day on Saturday, Simon finally decided to determine the proportion of new shares issued at 20%.

With Nokia's valuation of about US$2 billion at this time, issuing 20% ​​of new shares can raise 400 million US dollars. However, if calculated based on the peak market value of Nokia's US$200 billion in memory in Simon's memory, this equity means US$40 billion.

Of course, things can't be calculated like this.

If Nokia continues to maintain full privatization and not bind the interests of the company with the capital of European and American countries, next, under the suppression of all parties, Nokia is likely to be unable 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%.

Due to the differences in relevant laws in European countries, Nokia and Simon do not intend to use a multiple equity structure like American Online and Cisco.

In fact, it was probably because of the sudden collapse of Nokia in memory that Simon had a deep impression, and he did not have the idea of ​​permanently controlling the company.

Or, Simon has no idea of ​​permanently controlling any company in Westeros system.

Rise and decline are a historical necessity. No matter how brilliant a company has ever been, it cannot escape this fate.

Therefore, for companies within the Westeros system, whether it is Microsoft, Cisco, American Online or Hollywood's Daenerys Entertainment, as long as they find that a company is beginning to decline, Simon will exit as early as possible and invest capital in new areas.

On the other hand, although he decided to list on the London Stock Exchange in the UK this time, during 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 staying in Finland for a day on Saturday, he agreed on a general plan for Nokia's IPO, and Simon flew to Florence, Italy that night.

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

Florence.

It's early Sunday morning.

Sofia Fessi woke up first, gently took off the man's arms, entered the bathroom, and saw the strawberries on his neck in the mirror. She was a little helpless and resentful, but she felt a little satisfied with the man's obsession with her body.

The man prepared breakfast in person, and the man also completed the routine morning exercises and sat at the dining table together.

The four major fashion weeks in 1993 will be opened one after another at the end of February. Gucci has been preparing for the upcoming spring show recently.

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

While admiring the fashion that Gucci will launch in the following fashion week, Sophia introduced Simon the operating conditions of Melisandra Company just over the past year.

The official detailed financial report will not be released next week. Simon just listened to a rough answer, but he could confirm that Melisandra had just passed a year and the financial data was also very gratifying.

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

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

Sitting in a historic Italian restaurant in Florence, Simon was surprised to hear Sofia's name.

Sofia nodded and said, "That's right, Christie's."

As he said this, noticing that the man's expression was a bit 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, "In the future, my children will have an advantage in comparing and showing off with their friends. Others may say that my mother just bought a Gucci handbag, and my father spent $10 million to buy a painting at Christie's, but my son can say that Gucci belongs to me, Christie's, and my family."

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

Simon nodded in agreement: "Well, indeed."

Sofia gave Simon a blank look and said, "So, have you agreed?"

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

Sofia said: "If it were in the past, we really didn't have the chance to buy this company. Christie's has a history of 200 years. However, you also know that the economic situation in recent years, Japan's rise in the 1980s, and the North American economy continued to rise. The days of several major auction houses in the world were very prosperous. However, since the North American stock market crash in 1987, due to the ongoing economic crisis, the wealthy people have begun to reduce their spending, and the Japanese stock market bubble burst, making Asia's new market with huge potential quickly weak. The auction industry also has a Matthew effect. Christie's has a market share of about 30% of the auction market in the past few years, which is lower than 40% of the listed Sotheby's. However, the performance gap between these two auction companies, which accounts for more than 70% of the auction market, is very large."

Speaking of this, Sophia paused, sorted out the information in her mind, and continued: "In the past year, Sotheby's annual profit was US$265 million, but Christie's was only US$52 million. The two companies' market share gap was less than 10%, but the profit was five times different. The market shrinkage in North America, Europe and Asia has not stopped. I was worried that this situation would continue, so Christie's released the news of seeking sales."

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 on a downward trend, and the Japanese rich people who bought the world that year also stopped. Last year's pound crisis caused European countries to fall into an economic crisis. In this way, the world economy is at its lowest level in the past decade.

Simon knew even more that this was also the lowest state in the next decade.

Christie's is worried that the auction industry will continue to reshuffle, which will eventually lead to the original state of being in a co-ordinated state of Christie's and Sotheby's becoming the dominant one. This worry is not unreasonable.

As the market becomes weak, the rich people who are still able to buy expensive collections will obviously only tend to be more powerful, which will only make Sotheby's become stronger and stronger. If Christie's wants to maintain its market share, they can only take measures such as reducing commissions or increasing marketing expenses, which will further compress their profit margins. However, doing so may not improve the operating conditions of the auction house, but will make the gap between him and Sotheby's become larger and larger.

The most important thing for Christie's to get rid of this dilemma is that the auction market can prosper 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, it is not surprising to choose to sell oneself.

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 will also become consumer upstarts in the collectibles industry due to their rapid economic growth in the next twenty years.

Buying Christie's auction house now will definitely be an excellent bottom-buyer.
Chapter completed!