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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Jerome Landesman who wrote (1170)	6/14/1999 3:28:00 PM
From: Daskin	Read Replies (1) \| Respond to of 15615

Because many people think GBLX will raise bids to win over this battle with QWST. Once if GBLX makes it clear that they won't raise bids, then we will go back to 60's. Up or down further is up to GBLX's response. I hope not, US WEST and FRO ain't worth that much. JMHO

To: Jerome Landesman who wrote (1170)	6/15/1999 8:10:00 AM
From: Tim Cruise	Respond to of 15615

Jermone, It was not that clear cut in the first place, and is certainly no where near clear at this point. The bottom line is QWST offered to buy about 9% of GBLX's float at $62.75. This does not mean that they thought that the entire float was worth that price. The $62.75 number was part of some very complicated math related to the potential merger. So complicated that I have yet to encounter one single person, in Bermuda or NYC, that professes to understand it. I am not sure that there is any upwards arbitrage in GBLX, but I would guess that there is in FRO. Good luck, Tim