While Daio Paper is taking an active stand, the fact that United States authorities rather than Japanese regulators appear to be taking the lead in investigating the Olympus transactions speaks volumes.
And the government's insistence on exceptional security and privacy measures for Internet surfing and transactions speaks volumes about the regulatory hurdles Internet companies face in France.
"Their valuation is different from us," said a person close to the transaction, speaking of the Qataris, who added that the bank would become "a platform for Qatar Inc".
The investment banker on the transaction, speaking on background, said that scenario was unlikely.
However, financial adviser James Ducker says anyone considering entering into one of these transactions should speak to an expert to get independent advice - so the banks know they cannot charge a huge profit.
Though new rules and better enforcement have begun to cut into the cash flying out of Kabul, it is anyone's guess how much moved out of Afghanistan overland on trucks or on twice-weekly flights to Dubai from Kandahar in southern Afghanistan, said an Afghan official who tracks suspicious financial transactions and spoke on the condition of anonymity.
Into this context comes "Supremacist," a new novel by Shapiro, who is now working as a corporate lawyer specializing in private-equity transactions; he spoke to me by phone on a Sunday afternoon, when I found him lawyerishly playing mini-golf "with a little putting green that I keep in my office".
But two people close to the transaction, who spoke only on condition of anonymity, say AT&T has already started traveling down those dual tracks.
But another person, who was briefed on the transaction and spoke on condition of anonymity because the partners had not disclosed terms, put the investment at about $100 million.
"If the foreigners do not come in we are toast," said one banker who was involved in the transaction but spoke on the condition of anonymity.
