It's definitely an interesting thought exercise to consider C1/TIM could have bought EM1 outright.
I don't really have the time atm to think this through fully. But the cost/benefit for them assumes they would be able to convert a large number relatively quickly. I'm no business expert; but there is always a balance between risk and reward. The reward would have been higher if they bought EM1; but the risk would have been higher also.
And outside of the discussion on where the money flows and how much; there is also the relevant discussion of C1/TIM trying to make itself more credible to world authorities. Which option would make them more credible; purchasing EM1 outright, or making an agreement with EM1?
**In addition to this, what if they had bought EM1? would every country that has warnings or actions against C1/TIM apply their existing warnings & actions against EM1 instantly because it is then owned by C1/TIM? Maybe this way they can gain revenue from a product that has the legal reach beyond their current business?
EM1 Price at posting:
10.5¢ Sentiment: Hold Disclosure: Held
(20min delay)