COMS & the Ghost of USRX w/ other STUFF Message Board

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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF

COMS 0.00130

-18.8%

Nov 7 11:47 AM EST

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To: Dwight E. Karlsen who wrote (7390)	10/23/1997 4:30:00 PM
From: Glenn D. Rudolph	of 22053

Brazil bolsa to lift suspension on telecom stocks Reuters Story - October 23, 1997 12:20 %LATAM %HOT %EMRG %LDC %BR %TEL %STX .BVSP TEL_p.SA TEL.SA TLS_p.SA TER.SA TMG.SA TEP.SA TBR V%REUTER P%RTR SAO PAULO, Oct 23 (Reuters) - Brazil's Sao Paulo Stock Exchange (Bovespa) said it will lift at 1430 local time/1630 GMT/1230 EDT its suspension on trading in shares of federal holding Telebras and seven other telecoms. Trade in the shares would begin at the start of the bolsa's afternoon session following the conclusion of Communication Minister Sergio Motta's news conference on Telebras' privatization model. The suspension went into effect at the open, an hour after Motta began his marathon three-and-a-half hour news conference in Brasilia. A bolsa spokeswoman said the suspension of trade in Telebras, Telesp , Telerj , Telemig , Telepar and three other telecoms was requested by Brazil's Securities and Exchange Commission (CVM). CVM officials routinely request trade be temporarily halted when officials make potentially market-moving comments. The market has anxiously been awaiting details of the government's sell-off plan. Telebras preferred is the Sao Paulo bolas's benchmark and is traded in New York as a Level Three American Depositary Receipt . Trade in the ADR also was suspended in New York.

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