No, it is not a subsidiary and will never become one unless A2M is taken over by the CCP.
There is a total of five members in MVM's board. Three of them are proxies of the CCP.
For obvious reason, those three will never be changed regardless how many MVM shares A2M owns.
This means that A2M will never have any influence in the company ever, but unfortunately it will still have to bear any losses that the company makes unless A2M is prepared to do a full write off.
It is a typical dirty corporate tactic.
I do want to see A2M try to depose those proxies. It will definitely be a sight to see.
Management Issues, page-122
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