2015年商務(wù)英語(yǔ)BEC中級(jí)考試閱讀資料一

貝爾斯登(Bear Stearns)與中國(guó)最大券商中信證券(Citic Securities)正在就去年達(dá)成的股份互換協(xié)議重新展開(kāi)談判，以更好地反映協(xié)議達(dá)成后雙方股價(jià)的下跌。

Bear Stearns and Citic Securities, China’s largest securities firm, are renegotiating the share swap agreement they reached last year to better reflect a subsequent fall in their stock prices.

一位知情人士稱，兩家公司的高管正在討論一項(xiàng)“對(duì)等調(diào)整”，這將增加雙方最終持有的對(duì)方股份。

Senior executives from both firms are discussing a “reciprocal adjustment” that would increase the amount they eventually hold in each other, according to a person familiar with the matter.

根據(jù)去年10月達(dá)成的交易條款，中信證券同意支付10億美元購(gòu)入最終將轉(zhuǎn)換為貝爾斯登約6%股份的證券，而美國(guó)投行貝爾斯登最終將支付同等金額，購(gòu)得中信證券約2%股份。

Under the terms of the deal struck last October, Citic agreed to pay $1bn for securities that would convert to about 6 per cent of Bear Stearns and the US investment bank would eventually pay the same amount for about 2 per cent of Citic.

這宗交易仍需獲得中國(guó)監(jiān)管機(jī)構(gòu)批準(zhǔn)，若交易成功，作為中國(guó)國(guó)務(wù)院控制的中國(guó)中信集團(tuán)(Citic Group)旗下證券交易子公司的中信證券將成為貝爾斯登的最大單一股東。

The deal still needs regulatory approval in China, but if successful, Citic Securities, the brokerage arm of China Citic Group, which is controlled by China’s cabinet, would BECome the biggest single shareholder of the US investment bank.

由外國(guó)投資者持有一家美國(guó)銀行如此大規(guī)模的股份，可能會(huì)在美國(guó)引發(fā)批評(píng)。美國(guó)某些議員已對(duì)亞洲和中東主權(quán)財(cái)富基金的直接投資感到不安。

Such a large stake by a foreign investor in a US bank could attract criticism in the US, where some lawmakers have been unnerved by direct investments by sovereign wealth funds from Asia and the Middle East.

美國(guó)聯(lián)合經(jīng)濟(jì)委員會(huì)(Joint Economic Committee)主席、參議員查爾斯?舒默(Charles Schumer)本周暗示，可能會(huì)推動(dòng)對(duì)此類投資實(shí)行更嚴(yán)格的監(jiān)管。

Senator Charles Schumer, chairman of the joint economic committee, this week signalled a possible push for greater regulation of such investments.

根據(jù)中國(guó)官方新華社的報(bào)道，中信證券在貝爾斯登的持股比例可能增至9.9%，而貝爾斯登所持中信證券的股份最終可能增至7.5%。

Citic’s stake is likely to be increased to 9.9 per cent of Bear Stearns. The US investment bank’s stake in Citic could eventually be lifted to as much as 7.5 per cent, according to a report from China’s official Xinhua news agency.

10億美元的投資規(guī)模將保持不變，只是仍需得到中國(guó)監(jiān)管機(jī)構(gòu)的批準(zhǔn)。

The $1bn investment scale will remain the same, subject to approval from Chinese regulators.

自去年10月達(dá)成交易以來(lái)，貝爾斯登的股價(jià)已從當(dāng)時(shí)的大約120美元跌至約80美元。中信證券的股價(jià)已下滑40%，至大約71元人民幣。

Bear’s shares have fallen from about $120 when the deal was signed in October to about $80 now. Citic’s shares have dropped 40 per cent to about Rmb71.

據(jù)知情人士介紹，去年11月，在貝爾斯登股價(jià)出現(xiàn)驟跌后，中信證券首先提出重新討論它將在這家美國(guó)投行持有的股份。

Citic first broached the subject of renegotiating the stake it would take in Bear last November following a precipitous drop in the US bank’s shares, according to people familiar with the matter.

中信一位發(fā)言人表示，他不知道有任何談判正在進(jìn)行。記者無(wú)法聯(lián)系上貝爾斯登駐日本的一位發(fā)言人置評(píng)。

A Citic spokesman said he had no knowledge of any ongoing negotiations and a Bear spokeswoman in Japan could not be reached for comment.

一名了解談判情況的人士稱，雙方增持對(duì)方股份是“合理的”，反映了雙方股價(jià)的下跌。 For the two sides to take larger shares in each other was “reasonable” and reflected their lower share prices, according to one person close to the negotiations.

另一位知情人士則持更為懷疑的態(tài)度。他表示：“這些都是猜測(cè)，是我們的競(jìng)爭(zhēng)引起監(jiān)管機(jī)構(gòu)擔(dān)憂造成的。雙方的股價(jià)都下跌了，但這并不意味著需要重新談判，除非這么做符合雙方股東的利益。”

Another source familiar with the matter was more sceptical, saying: “It is all speculation driven by our competition which is causing the regulators to become concerned. The prices on both sides have come down but that doesn’t mean that the deal will be renegotiated unless it is in the interest of shareholders on both sides.”