Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.872

+4.5%

3:59 PM EST

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To: Steve Fancy who wrote (6862)	8/19/1998 4:30:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Germany's Dresdner Bank Unifies Brazilian Operations Dow Jones Newswires RIO DE JANEIRO -- In a move designed to strengthen its presence in Brazil, Germany's Dresdner Bank (G.DRS) announced Wednesday that it will unify its Brazilian banking operations. The new bank, which will merge the local activities of investment bank Dresdner Kleinwort Benson and commercial bank Dresdner Bank Latinamerika, has total assets of around $1.4 billion. In a written statement, Dresdner Bank Brasil president Winston Fritsch said that the bank's strategy will be "to provide a complete range of financial services to clients who have long-term investment and business plans in Brazil." Fritsch said that the bank will be more aggressive in its asset management activities and will expand its work in privatizations, corporate restructurings, mergers and acquisitions, global share offerings and project finance.

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