Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.435

+8.7%

Jan 2 9:30 AM EST

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To: Naveen Kumar who wrote (355)	11/10/1997 6:19:00 PM
From: Steve Fancy	of 22640

No near-term impact seen from Telebras budget cut Reuters, Monday, November 10, 1997 at 16:15 SAO PAULO, Nov 10 (Reuters) - A roughly $735 million (800 million real) cut in Brazilian federal holding Telebras's (NYSE:TBR) 1998 investment budget will not have an immediate impact on the company's line-installation projects or earnings, analysts said. "The budget is still very big. We thought the government would cut it by something like 2.0 billion reais," said Roberto Veirano of local bank Banco Fonte Cindam. Copyright 1997, Reuters News Service

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