nevcop you might be right in what you say and it looks tempting...

nevcop you might be right in what you say and it looks tempting but that means that the market and everyone else in the market has got it wrong. Are you sure of your figures?? I'm totally confused but anyhow here 's my take on the figures.
If company M owns 33.3% of a joint venture with company E and also owns 33.3% of company E it does not mean they own over half of company E. You can't double dip!
Company M still only owns 33.3% of the jv which is worth say $15million ( for argument sake) and 33.3% of company M which may be worth $90million say
(again for argument sake)
Now company E owns 33.3% of $15million which is $5million and 33.3% of $90million which is $30million.
This gives a total of $35million which is not even half of company E.
What will change the figures considerably is if the market values the jv a LOT more than the figure i've used, but then M still only owns 33.3% and E owns 66.7%
cheers
orga
Go ERO and MXR!!!