"Why haven't Bai Sang come yet?"

"Don't worry about him. Whether he comes or not has no impact on our meeting at all. How could he have had his own opinions over the years?"

"After all, Bai Sang owns 18% of the shares, so that's not good."

"Start quickly."

The atmosphere in the conference room was slightly stagnant.

Although there were many people present, most of them couldn't help but remain silent.

This is the shareholders' meeting of Alibaba headquarters. For some reason, Bai Ningyuan, who was supposed to attend the meeting, did not appear, but under the tough pressure of Yahoo President Carol Bartz, he started today's agenda. Although such an approach obviously does not meet the requirements, Bai Ningyuan's performance in Alibaba has made everyone not care about his existence at all.

A person who never expresses his own opinions, never interferes with the operation of a company, and always acts as an invisible person. Since his ideas will not have any impact on the company, what does it matter whether he attends or not?

At the beginning of the meeting, Ma Yun proposed to everyone present to divest Zhifubao from Alibaba to avoid the current difficulties faced by the central bank's regulations on Zhifubao.

Although Ma Yun had tentatively communicated with Yahoo and SoftBank before, and there was no practical effect, now he proposed this matter as a formal plan at the shareholders' meeting.

In Ma Yun's opinion, this is the best way to solve the current problem.

After all, the main purpose of this shareholders' meeting is to solve this problem.

"No, I object!" Carol Bats's somewhat sharp voice suddenly broke the tranquility in the conference room. Although she spoke English, the English level of the people present was undoubtedly good, and they could hear what she was trying to express.

This time, in order to get rich, Butts rushed from the United States to China, showing Yahoo's importance to this matter.

It has to be said that in terms of the results alone, Ma Yun's proposal is undoubtedly the best way to solve the current difficulties faced by Zhifubao, but for Yahoo and SoftBank, it is a huge damage to their interests.

Everyone present knew what Zhifubao means to Alibaba. It can be said that Zhifubao is Alibaba’s largest asset. If they lose this asset, their investment can be said to be mostly lost.

This is something they cannot accept.

Among them, Yahoo's reaction was the most intense.

The reason is very simple. Before that, there had been a crack between Yahoo and Alibaba, and even a direct conflict broke out.

The resignation of Yahoo founder Yuan Yang, Carol Bartz, the beginning of taking office, and the honeymoon period between Yahoo and Alibaba was announced to end. In 2009, when Bartz took office, Ma Yun visited the United States. In front of Alibaba's management, Bartz accused Ma Yun of not doing a good job in Yahoo China and buying into the relationship between the two sides.

What caused direct conflict between the two sides was the terms signed when Yahoo invested in Alibaba. According to regulations, after Yahoo invested in Alibaba for five years, Yahoo, which holds 39% of the shares of Alibaba Group, will increase its voting rights from 18% as stipulated in the terms at that time to 27.3%, while Mayun and other management will reduce the voting rights from 49.1% to 39.8%. SoftBank maintains 29.2% of economic rights and 20.3% of the voting rights. At this time, Yahoo and SoftBank will surpass Mayun and the management.

More importantly, starting from October last year, the clause "Alibaba CEO Ma Yun will not be fired" reached by the three shareholders of Yahoo, SoftBank and Alibbean have expired. At this time, if SoftBank and Yahoo unite, they will have the opportunity to dismiss CEO Ma Yun in accordance with the board of directors or the company's articles of association.

The world is bustling with people, all for profit, and the world is bustling with people, all for profit.

Because of their respective interests, the conflict between Ma Yun and other management teams and Yahoo has become extremely sharp.

So when Ma Yun proposed to separate the treasure from Alibaba, whether it was for his own interests or because of conflicts between them, Barts immediately expressed his opposition.

Now Alibaba’s management team is also regretting why it introduced Yahoo’s capital, making the current situation so passive.

Fortunately, SoftBank is acting as a harmonic agent in it, otherwise, Alibaba would have been in a big fight now.

As for Bai Ningyuan, although he is very well-known in the domestic business world, he always plays a role in Alibaba. Who cares about him?

"Ms. Butz, please be more rational. Now is not an act of impulse. The proposal I made is entirely for the future development of Alibaba. If the Zhifubao business is stopped due to capital reasons, then our losses will be extremely huge. At this point, we are partners sitting on the same ship. Now the regulations of the China Central Bank have clearly regulated the proportion of foreign capital. The Zhifubao situation is quite unoptimistic, so I think the method I proposed is the only feasible method at present." Ma Yun continued to persuade Baz and SoftBank's Masayoshi Son.

"No, no, No, the treasure of wealth is one of our most precious properties. If it is divested like this, who will bear the losses of us investors?" Bartz said loudly to Ma Yun with a righteous expression, but when he spoke, her eyes were always staring at Masayoshi Sun: "Mr. Sun, I don't think you want to see this valuable product, just slip away from your hands. Ma's approach is to illegally occupy the company's assets."

When she spoke, she looked a little indignant on her face.

"We will do our best to protect the interests of investors and can separate Zhifubao into an independent company. As for Yahoo and Microsoft, we can make appropriate compensation." Ma Yun argued without any weakness, with a sincere expression on his face.

The focus of the competition between the two sides was entirely focused on Masayoshi Son.

But from the beginning, Masayoshi Son did not express any opinions, but looked thoughtful, as if he was also making a difficult choice in his heart.

Should we continue to maintain a good cooperative relationship with Mayun, so we follow Mayun's advice, or should we give priority to protecting SoftBank's interests? Different choices mean that he has to make different decisions.

For a time, Masayoshi Son, who owns nearly 1/3 of Alibaba's equity, seemed to have become the most important weight to determine how the balance tilts. His decision was also related to the result of this game...

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