Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.730

-1.3%

3:59 PM EST

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To: Steve Fancy who wrote (1291)	3/25/1998 11:59:00 AM
From: Steve Fancy	of 22640

Investors say Brazil survived Asia woes-BankBoston Reuters, Tuesday, March 24, 1998 at 19:46 BRASILIA, March 24 (Reuters) - BankBoston Corp. (NYSE:BKB) President Henrique de Campos Meirelles said Tuesday that global investors are feeling increasingly confident Brazil has survived well the fallout from Asia's financial crisis. "There is a consensus among investors that Brazil has overcome well the Asian crisis," he told reporters after meeting President Fernando Henrique Cardodo. Meirelles said BankBoston plans to invest $90 million in Brazil this year and expand its existing 44-branch network in the country to 64 offices by the end of 1999. Over the years, BankBoston has invested $8.0 billion in Brazil. Meirelles said he and several BankBoston board members met with Cardoso on Tuesday and discussed the government's policies on health care, education, privatization and economic stability. He described the meeting as "very positive" and said it was, "important for foreign businessmen to hear the president's outlook for Brazil." james.craig@reuters.com)) Copyright 1998, Reuters News Service

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