Coolpad ViceChairmanJiang Chao spoke out continuously through Weibo today, scolding "If there is no love, you are just a beast full of hatred", and called on employees to "not be afraid of the power of evil", which is suspected to be in response to Zhou Hongyi, chairman of 360 Company. This morning, Qihoo 360 issued an announcement requiring Coolpad to spend about $1.5 billion to buy all of 360's holdings in the joint venture between the two partiesEquity。
It is understood that the reason for the matter between 360 and Coolpad is that on June 29 this year, LeTVInvestmentIt purchased 18.5% of the shares of Coolpad Chairman Guo Deying, becoming the second largestshareholders。 On December 16, 2014, Coolpad and 360 were establishedJoint venture companyQiku, which is mainly developed and sold through Internet channelsMobile terminalsproducts. The two sides have agreed that Qiku will make Internet mobile phones, and Coolpad will make retail channels and operator mobile phones, and will not cross each other's borders. But LeTV, which also makes Internet mobile phones, is a direct opponent of Qiku, borrowing shares to obtain Coolpad's IP and R&D capabilities. In this regard, Zhou Hongyi once said in the circle of friends: "Whoever stabs me in the back and tries to screw me, my principle is to fuck back." In addition, Zhou Hongyi also said in the circle of friends on August 26 that making mobile phones is equivalent to his second entrepreneurship, "You can compromise and endure humiliation, but you can't treat my tolerance as weakness, don't bully people too much, otherwise some people will die." ” And just two days ago, at 10 o'clock in the evening on September 6, Zhou Hongyi was once again in personCircle of friends"I personally never say big words and don't brag, I will definitely do what I say, at any cost, regardless of the cost, I would rather break the jade and die together, so I said, who stopped me from doing it."mobile phoneI will kill whoever I want, this is not a threat, let alone intimidation, I will do it if I say it, as for someone threatening to kill me, I have been waiting, see you tomorrow. At present, it seems that this sentence alludes to 360's actions today. And a series of actions by the two sides seem to indicate that the cooperation between 360 and Coolpad has come to an end. This morning, 360 announced that it had notified them in writingCoolpadThe company, based on its series of violations of inter-industry competition agreements, 360 decided to exercise the relevant put options. The written notice also shows thatJoint venture companyTotal capital valuation of $1.5 billion, estimated 49.5% of 360's holdingsEquity$742.5 million, so the total price for Coolpad to purchase the equity of the joint venture held by 360 should be $1.485 billion. But judging from Coolpad's closing price on September 7, its current market value is less than $1 billion. For Coolpad, $1.485 billion is clearly an unaffordable price.
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Posted on 9/10/2015 9:30:42 PM
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