Karle, Heiko; Klein, Tobias J.; Stahl, Konrad O. - CESifo - 2011
We study a differentiated product market in which an investor initially owns a controlling stake in one of two … competing firms and may acquire a non-controlling or a controlling stake in a competitor, either directly using her own assets … investor attains this only in exceptional cases. Instead, she sometimes acquires a non-controlling stake. Or she invests …