23. Consider the direct listing of Spotify. Which of the following contributed to the initial success of the listing? A The issuer was a disruptor in its field, backed by the right investors B The issuer had no comparables and the CEO was still a majority owner C I do not want to answer this question D The issuer was a famous brand lacking pricing power E The issuer was not after new capital and belonged to a very difficult sector 24. Which of the following regarding the Vodafone-Mannesmann deal is CORRECT? A This may look like a disaster deal. Yet it was in fact a successful realisation of Mannesmann's strategy to provoke Vodafone into taking it over and help Mannesmann's pessimistic shareholders cash in their overpriced stock B This was a disaster deal. To make it even worse, Vodafone suffered additionally as by paying with 100% stock it sent a strong signal to the market its equity was overvalued C I do not want to answer this question D This may look like a disaster deal. Yet circumstances necessitated such an action on the part of Vodafone as otherwise Vodafone could have been the one taken over by Mannesmann E It was a disaster deal for Vodafone. Vodafone was obliged to take advantage of its temporarily overvalued stock as quickly as possible and there were no other investment opportunities