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

To: stilts who wrote (2336)10/6/1999 7:43:00 AM
From: AurumRabosa  Read Replies (2) | Respond to of 15615
 
If an arb bought FRO when it was selling for less than 2.05x of GBLX's price then they made a profit when their FRO shares were converted to 2.05x GBLX shares. If all they wanted was the arb trade then they would be willing sellers of GBLX so they could move on to their next arb trade. Then the S&P 500 index funds would be willing buyers and here we sit until all these shares end up in long term hands.


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