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To: Terry Whitman who wrote (71029)10/22/1999 8:53:00 AM
From: PaperChase  Read Replies (1) | Respond to of 86076
 
Terry. GTE will track BEL's stock price with a 6% to 8% discount to the takeout offer until the FCC approval is received. GTE has the legs to stand on its own if something goes wrong. With a hedging and arbitrage play you will lock in your return immediately by going long 1 share of GTE and going short 1.22 shares of BEL.