Take On China Inc. At Your Peril, page-129

I should add, for clarification purposes, CWN own 27% of melco crown (which includes City of Dreams in Macau and Phillippines and Altira in Macau) but a lesser share of Studio City (16.4%), their newest venture in Macau, by virtue of the fact that 2 hedge funds own 40% of that asset. The gossip for some time is that the hedge funds are sellers. The recent rise in MPEL share price may mean it's easier for MPEL to buy out the minority holders...watch that space I guess.