Singer wants to amend agreement, boost stake in Arbinet-thexchange to 18%

By Lisa Kerner

Charlotte, N.C., Sept. 5 - Arbinet-thexchange, Inc. investor Karen Singer, along with Gary Singer and the Singer Children's Management Trust, asked the company's board of directors to eliminate a restriction under the parties' May 30 stock ownership agreement.

Under the agreement, if the Singer entities own 18% or more of the outstanding voting stock of the company, they are prohibited from engaging in any "business combination" with Arbinet-thexchange for a three-year period, according to a schedule 13D/A filed with the Securities and Exchange Commission.

Karen Singer beneficially owns 17% of the New Brunswick, N.J., electronic market operator company.

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