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On Dec 17, 1999 the market values of Vodafone and Mannesmann were 154 bn and 121 bn, respectively. Suppose the two firms merged without any

On Dec 17, 1999 the market values of Vodafone and Mannesmann were 154 bn and 121 bn, respectively. Suppose the two firms merged without any premium and there was no subsequent gain or loss in market value of the merged entity. What percentage of the combined firm would be owned by Vodafone's existing shareholders (in %)

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