It just makes one wonder why they didn't (or couldn't) say HYDROELECTRIC COMPANY in the latest PR
They may not have been able to get to specific for certain regulatory issues concerning both parties, and especially if they are in the finishing stages of the deal. These deals can be very complex, and when you're dealing with such a large company those complexities can get even bigger.
IMO that is why they said they would release "snippets" as soon as they could, and when it becomes legal for them to discuss it in public.
March 8: - One of the second merger candidates is a colossal Hydroelectric[..]
There are two secondary merger candidates, of wich one is Hydro and one unknown (doesn't have to be Chinese).
March 22: - This second merger company will represent a smaller share of VCTY as the merger negotiations with the China-based hydroelectric utility as the primary candidate continue
The second one, which will use a smaller share of vcty, is a third company here (doesn't have to be Chinese). It's just another candidate, why it is mentioned is odd, since the merger negotiations continue with hydro and the primary company. This third one, is a smaller company. We got more information about this third candidate and none mentioned it is a Chinese company. This all tells that the video rental is still primary and the hydro the secondary.
April 16: - VCTY board and management are taking a twofold approach to the merger. One is to finalize the merger with THE China company which has a staple business model and a steady revenue stream.
Now there is a mention of a Chinese company, which must be Hydro and which has staple business model and a steady revenue stream = Hydro. In the March 22 PR the third company would use a smaller share size of vcty. A staple business model and steady revenue stream cannot refer to a company that will use the smallest share size, even smaller than the video startup company. Also remember that it is not mentioned, that the "second" secondary candidate is Chinese -as far as I am aware, that is- . So the odds are favorable.
IOW: To finalize merger of the only mentioned Chinese company.