Question

could two companies own each other?

Answer 1

If your are talking about investing in each others stock, than it's possible. But if this means, owning each other, as the major stock holder/owner than it's not possible

Answer 2

Well, Abercrombie and Hollister are owned by the same company. But that's an example of two retailers being owned by the same company...
it's possible though you feel me

Answer 3

there are various examples of cross holdings, which is one company owning another.