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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: Phil Jacobson who wrote (371)3/16/1999 1:28:00 AM
From: CuGeo  Read Replies (1) of 15615
 
CIBC filed 13g with SEC in mid February showing ownership
of 48.6 million shares pre split. Now they hold 97.2mm or
5.5 billion dlrs worth. CIBC stock hasn't even reacted yet as they have 408mm shs o/s. and closed today at 38.25 cdn. Their ownership
in GBLX looks to be worth 20.00 cdn. For every share of CIBC
you get 1/4 share of GBLX plus the rest of the bank for 18.25 cdn.
Looks like a very safe way to play this! I own both. Love this
whole story.

Cheers Cugeo
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