Global Crossing - GX (formerly GBLX) Message Board

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Technology Stocks : Global Crossing - GX (formerly GBLX)

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To: bwtidal who wrote (388)	3/16/1999 1:08:00 PM
From: bwtidal	Read Replies (1) of 15615

CORRECT: Cdn Imperial Could See C$4.04B Gain From Global Crossing Symbol: BCM GBLX C/CM Industry: BAN BNK CBN CMT TEL Subject: DJN DJWI COR DJS MMM STK TEC WEI Market Sector: FIN TEC TPX Geographic Region: CA CN NME ONT PRM US USW Product/Service: DBK DCA DTE Canadian Imperial Bank of Commerce (BCM) could record an after-tax capital gain of C$9.80 for each of its own fully diluted shares from selling its stake in Global Crossing Ltd. (GBLX), calculated Roy Palmer of TD Securities. At last report, Canadian Imperial had about 412.6 million common shares outstanding. That means the bank could see total net capital gain from the sale of its Global Crossing stake of about C$4.04 billion. (In an item published at 10:44 a.m. EST (1544 GMT), the after-tax profit Canadian Imperial could earn from Global Crossing was incorrectly reported at about C$688 million.)

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