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

To: John Biddle who wrote (4698)	3/3/2000 4:42:00 PM
From: JDN	Read Replies (1) \| Respond to of 15615

Dear John: Sounds good to me. Only thing I would comment on is your spinoff discussion. I think you said sold to the public. Generally spinoffs are shares "given" to the existing shareholders of the entity. JDN

To: John Biddle who wrote (4698)	3/3/2000 5:00:00 PM
From: DWB	Read Replies (1) \| Respond to of 15615

John, Do you know how each of these effects holders of options of the parent company? For instance LEAPS Calls holders when a Spin-off or tracking stock is created? Thanks in advance, DWB Q2.5K/Y2K+5 <--- Q=QCOM

To: John Biddle who wrote (4698)	3/3/2000 5:42:00 PM
From: jerryriti	Read Replies (3) \| Respond to of 15615

Regarding GBLX's intention to create a tracking stock for Global Centers, am I correct in my assumption that a certain percentage of that tracking stock will be sold to the public through an IPO and the remainder retained by GBLX; or, is it possible that current shareholders will participate via a rights offering? I assume that the goal will be to raise as much capital as possible and it would seem that each of the above options would accomplish the same end, but with a rights offering, current shareholders would be in a better place! Am I thinking about this with sufficient clarity or missing something? GBLX has generally been considered to be shareholder friendly so I am hoping for a rights offering. Only advantage to an IPO would seem to be that the investment bankers could test the waters and raise the price if the climate were right! I have to assume that GBLX will have to go the route that raises the greatest amount of $ but if all things were equal, I imagine a rights offering would be preferred by shareholders. Am I missing something or do I have the whole scenario wrong?