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Extraordinary Genius
Chapter 1346 – Showing the graciousness of a strong nation
After the Chinese Government made the statement, John and the representatives of the other companies received instructions from their headquarters to settle for a private settlement with CCTV immediately.
China is a massive emerging market and has high potential. The companies must not give up this vast market. Many companies felt the Chinese market would grow bigger, and this is a critical market for them.
How can they withdraw from the market they spent years opening up? Threatening to withdraw from China is only a bluff.
China has always given in to such threats in the past, but this trick did not work this time.
Some representatives were replaced by their companies immediately.
This shows the companies’ attitude of trying to downplay this incident to the Chinese Government.
“Boss, their lawyers, want to meet us for a private settlement,” Wilson reported. “This is to our benefit. We can save on the lawyer fees and get the most out of it.”
Feng Yu rolled his eyes. We have promised to pay them this amount. How can we take back our words? Furthermore, we are not the ones paying.
“The representatives of those law firms must also be there for the private settlement. We cannot shortchange them, and you should speak to Station Chief Jai instead of me. You are representing CCTV now.”
Wilson quickly replied. “Someone has reported to Mr. Jia, and I believe you have your inputs for the settlement.”
Station Chief Jia called. “Manager Feng, the other party wants to settle this privately. Should we agree?”
“We can agree and come together to discuss. The compensation amount can be lowered but cannot be too low as we need to pay our lawyers. You can tell them that the internet companies and Tai Hua Supermarket Group will not sue them if they are willing to compensate. The compensation can be lesser.”
“Ah… then you are at a disadvantage.” Station Chief Jia replied.
Chief Jia is willing to accept this outcome as CCTV stands to gain from it and show its powers. He knows Feng Yu does not mind getting lesser compensation as his annual earnings are much more than that.
“Alright. You don’t need to be so modest. But do you know how to negotiate for the private settlement?” Feng Yu asked.
“Shouldn’t it be our lawyers negotiating about the settlement?” Station Chief Jia asked.
They had spent so much money to hire the lawyers. Why should he attend the negotiations himself? He can just show his face and let the lawyers handle the rest. Furthermore, he cannot face those overseas bloodsuckers, although CCTV has to negotiate numerous contracts annually. Those lawyers were unfazed when they heard CCTV is trying to claim 3 billion USD from those companies, unlike him.
“Chief Jia, have you asked the higher-ups for their opinions?” Feng Yu hinted.
“I asked. They say this is a commercial dispute and will support us as long as we did break any laws.”
“But the higher-ups still need foreign investments, and we should give them some slack.”
Chief Jia understood what Feng Yu is saying. “Are you asking me to play good cops, bad cops, with the lawyers? The lawyers will force them, and I step in as the good guy?”
“Of course. You must be the good guy. You are not only representing CCTV. You are also representing China. We must show the graciousness of a big nation.”
Chief Jia: “……”
You demanded such a high amount, and you are talking about being gracious?!
You are the one who started this, and why did you sue them if you want to be gracious?
“How much compensation is suitable?” Chief Jia asked.
He is concern about how much money he can get out of this settlement, as this is considered his political achievements.
“Chief Jia, I will offer you a small suggestion. It would be best if you surrendered the compensation to the higher-ups. Don’t forget the purpose why we sued them. It is to get back our domestic brands, and we need money to buy back the shares from them.” Feng Yu hinted.
“Manager Feng, are you saying that you did all these is to get the money to buy back our domestic brands?”
“Of course. I am doing this for our nation.” Feng Yu rubbed his nose. He had only wanted to create some trouble for those companies to lower their brand value initially.
But Zhong Qingxian reminded Feng Yu not to get involved immediately after things blown up. He should let others buy back those brands. The Chinese Government has started to pay attention to domestic brands recently, and they should know how to handle it.”
Tai Hua Holdings will ‘help’ only when the Government doesn’t have the money to buy those brands. This will prevent from being seen as trying to compete with the Government to gain benefits.
Feng Yu thought about this, and he doesn’t want the higher-ups to think he stirred up all these to acquire a few companies.
He had done this in good faith and did not want to be misunderstood.
“I know what to do. I will discuss this with the higher-ups, but this will lower the compensation amount further.”
“You must make sure that the compensation of at least one company is not lowered by too much. That company will be used as an example for other companies in the future. Of course, you can give them some benefits privately.”
Those foreign companies will think twice if they are going to acquire Chinese assets in the future. Feng Yu will also not continue to find faults with those companies if they don’t profit from nationalist sentiments.
Foreign investments are welcomed if they do not have ulterior motives. Feng Yu has also expanded his overseas businesses aggressively, and no one had targeted him.
Feng Yu told Wilson to coordinate with Chief Jia to show China’s graciousness as a big county towards those companies.
Also, those companies must learn from this lesson and return the things that are not supposed to be theirs!