So EMC owns 80%+ of Vmware which has a market cap of $38B (so roughly $30B). where does that show up on the balance sheet of EMC? Or is it at cost and thus "hidden"If EMC were to distribute VMW shares tax free, wouldn't the better play be EMC as the value of VMW it just not showing up in the shares?
I have looked at the numbers and it is not obvious to me where it resides on the sheet.http://finance.yahoo.com/q/bs?s=EMC+Balance+Sheet&annual
it must be long term investments counted at cost. So if this was at fair value, it would be $30B.