NST Share price post merger, page-124

"Its about a mob called 'State Street Corp" borrowing just under 38 Mil in shares from many institutions."

I think that you might be misreading the announcement.

Where do you get the figure that they have borrowed 38m shares to short sell?.

Rather, acting as managers or trustees for many funds and entities, they own or control 38m shares .

The total of the shares that they have listed as borrowed net of the ones that they have returned is just 3,343,536.
The total of the "in specie" shares that have in their hands is 1,013,441.
The total listed as purchased is 1,561,930.
The listed dealings are only in the period after 6 Oct 2020.

So most of the 38m shares are probably sitting passively in funds that they manage.
I expect that the number of shares that they have available to short sell if that is their want, would be a lot less than 38m.

Cheers