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

To: FR1 who wrote (930)	5/17/1999 12:34:00 PM
From: Robert Sheldon	Read Replies (1) \| Respond to of 15615

Then why is the stock going down on announcement? Normal arbitrage. That's how it works on the street. The reason may be that everyone sees this as a big slow down in GBLX. Wrong. There will be two classes of tracking shares . . . take your pick between growth or income.

To: FR1 who wrote (930)	5/17/1999 12:59:00 PM
From: M. Frank Greiffenstein	Read Replies (2) \| Respond to of 15615

Then why is the stock going down on announcement? GBLX should go to at least $62.75. This would be true only if USW were buying 100% of GBLX rather than just 9.5%. I have no explanation as to why GBLX is selling off, except maybe general market deterioration(but then why are LVLT and QWST going up??). Or maybe the market does not like the idea of tracking stocks? DocStone