360 cool war settlement behind there is no real contradiction winner

[Abstract] there is no real winner in the world of mobile phones, or even a temporary settlement.


Tencent technology Guo Xiaofeng, September 19th, reported

got the 360 battle of default raise a Babel of criticism of cool story appeared reversal. Yesterday evening, the company has 360 officially announced, and cool group on both sides of the joint venture company our technology equity issue reached a new agreement.

after the signing of the agreement, cool group held shares will be our technology from 25% to 50.5%, while 360 of our shares held by the company of science and technology will be increased to 75%. So far, 360 to become the largest shareholder of cool, cool group into second shareholders.

10 days ago, 360 stake in music cool invasion of their interests, in accordance with the previous requirements of cool shareholder agreement, buy all 49.5% in 360 jointly set up a joint venture between the two sides in our holdings of shares, a total of about $1 billion 485 million, then triggered a massive war slobber and 360 cool music.

looked back on both sides of the split process, is widely believed to 360 in the final victory, in fact, a careful study of the 360 announcement, will find the mobile phone world war and there is no real winner, even compromise is likely only temporary situation.

What are the conditions for


last December, 360 announced the establishment of a joint venture to invest $409 million in cash to cool, the shareholding ratio of 45%. In May this year, 360 re invested $45 million, the shareholding ratio increased from 45% to 49.5%.

‘s 360 said in the announcement, part of the equity joint venture company will redeem our technology cool group holdings. It is worth noting that this time is not 360 then our holdings, but our technology itself is part of a group of cool redemption of shares, repurchase shares of the funds will come from our itself, if it is the 360 investment, such as the previous two redemption transactions must require the same release announcement holdings again, but by the end of 360 when the deadline is not science and technology Tencent relevant announcement.

If in accordance with the 360

before the two $454 million ($409 million +4500 million dollars) calculation, our 25.5% shares worth $227 million.

cool in the subsequent announcement pointed out, cool and Tech Time (360 of the company’s main investment, cool) held by Coolpad E-Commerce per share will be split into 10 shares; Coolpad E-Commerce agreed to repurchase cool held 6800 shares of Coolpad E-Commerce shares, the repurchase price shall be as the transfer to the Internet. Cool related business. After the completion of our agreement, "

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