Question: 1 ) Consider a four - tier pyramid and a single operating Company. Assume that 4 7 % of the votes confer control at the

1) Consider a four-tier pyramid and a single operating Company. Assume that 47% of the votes confer control at the holding level given that the company has enough controlling shares. What is the percentage ownership (approximately) at the highest level on the pyramid that will enable control of the operating company Estrella Azul?

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