just thinking ....
assume:
plc market cap @1.84 = 58.2 B pesos
bel market cap @5.25 = 55.4 B pesos
assume bel owns 90% of plc?
then bel owns:
58.2 B x .90 = 52.33 B (plc shares)
which means:
55.4 - 52.33 = 3.07 B = apc shares and other properties?
my conjecture:
1. plc is currently fully valued but bel is undervalued
or
2. bel is currently fully valued but plc is overvalued
which means ....
1. either plc's price will go down or
2. bel's price will go up or
3. as plc's price goes up .. bel's price will go more than proportionally up or
4. the present prices of plc and bel will not stay forever in the same proportion @ 1.84 to 5.25
