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Question - HelloYou is a publicly traded internet company that holds 60% of a MeToo Inc, a publicly publishing company. MeToo's statement is fully consolidated in HelloYou's statement. Hint, consolidating means combining the financial statements of MeeToo line by line in the HelloYou statements and recognizing minority interests (the portion of MeeToo which is not held by HelloYou) on a separate line in equity.
You have the following information on the two companies.
HelloYou(Fully consolidated)
MeToo (stand alone)
Market price per share
$8
$70
Number of shares
1.5 billion
200 million
Book value of debt
$8 billion
$4 billion
Cash
$2.5 billion
$750 milliom
EBITDA
$2.7 billion
$700 million
Minority interest
$1.5 billion
You should trade at which EV/EBITDA if you only consider its core internet business?
Hint - Calculate Enterprise Value and EBITDA only for HelloYou excluding the consolidated MeeToo business.
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