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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.520+2.5%3:59 PM EST
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To: Andy Riedel who wrote (171)8/21/1997 8:33:00 PM
From: CJ..   of 22640
 
To All..
Here we go, this is what we've been waiting for......

11:11 AM ET 08/21/97

Telebras sell-off model to be set by Oct

FORTALEZA, Brazil, Aug 21 (Reuter) - Brazil will define the
privatization model of the country's federally-owned
telecommunications network Telebras by October, Jose Pio Borges
vice president of the National Development Bank (BNDES) said.
Speaking at the National Congress of Brokerage Houses,
Borges said two consulting companies were working on a proposal
for the country's new telecommunications model which should be
ready by October.
He added that the idea of unifying Telebras' 26 regional
units under one new company had been virtually ruled out. "The
idea of a single bloc company has been abandoned," Borges said.
He said the existing Telebras system would probably be
divided into fewer than six regional units.
Borges said the next step in the privatization process
would be the publishing of tender documents for the hiring of
consultants who will advise on the Telebras sell-off. He said
he hoped these documents would be published by October 30.
"Everything indicates that the privatization of the
telecommunications system will begin in the first half of
1998," Borges said.
Brazil is expected to raise at least $30 billion in the
sale of the Telebras system, Borges said.
((-- Fatima Cristina, Sao Paulo newsroom 5511 248 5410))

CJ..
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