A family has 80% of the cash flow rights of firm A. Firm A has 50% of the cash flow rights of firm B. Firm B has 40% of the cash flow rights of firm C. A family has 80% of the voting rights of firm A. Firm A has 75% of the voting rights of firm B. Firm B has 60% of the voting rights of firm C.
The family owns 0.8 * 0.5 * 0.4 = 0.16 = 16% of the cash flow rights of firm C.