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

To: Raymond Duray who wrote (1442)	8/4/1999 11:26:00 AM
From: ynot	Read Replies (1) \| Respond to of 15615

Ray, what about QCOM, current levitation queen :) and some of the others? ynot :)

To: Raymond Duray who wrote (1442)	8/4/1999 4:40:00 PM
From: quidditch	Read Replies (1) \| Respond to of 15615

GBLX, FRO and share price Ray, it strikes me that, in addition to the sell-off in/rotation out of the broadband and last mile sectors, there may be another factor weighing on GBLX. While I don't have the proxy handy, the issue is the FRO merger, but not the question posted earlier today or last night concerning FRO's right to walk. The issue is, as GBLX gets hit by sector rotation and tech market weakness, it takes more GBLX shares to pay the merger price equivalent for FRO, becoming increasingly dilutive with each fraction of a point the price heads south. The collar, then, is protective not only of FRO shareholders but, in unwanted fashion, those of GBLX. Not unlike the mutual death spiral that CIEN and TLAB did last year beginning at this time once T pointedly announced that it would no longer test CIEN DWDM. There it was the target's spiral that took the acquiror down. Regards. Steven