So, no firms are insolvent at this point of time. That's good news.
The different regions (China, India, and Brazil) are certainly following three different paths. Let's look at Brazil as there has been a lot of shopping activity. To recap, going into the last rollover, Wicked Wheelz had been bought by Spoketacular Ind. One has to assume that Spoketacular is happy with its purchase as they've continued to hold Wicked Wheelz. The precedent set Spoketacular has been followed by Wheelie Good Bikes, who have bought High Gear. But in a surprise move, the Racing Bike Company has bought Spoketacular Ind, creating a mega-firm comprising the Racing Bike Company, Spoketacular Ind, and Wicked Wheelz. That must have been expensive. The question now is, will the Racing Bike Company be able to realise enough of a gain from their subsidiaries to cover the premium they paid to acquire Spoketacular?
All the firms that have undertaken purchases, have taken a hit to their SHV. But, it will be interesting to see by how much they bounce back.