Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.872

+4.5%

Dec 4 3:59 PM EST

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To: dougjn who wrote (8654)	9/30/1998 3:04:00 PM
From: MGV	Read Replies (1) of 22640

The political issue is the big issue. There is no fundamentals issue with respect to TBR. I really think the Brazilian Government understands the urgency of the fiscal deficit because of what has happened in Asia and Russia. I'm convinced that Cardoso is a reformer. You are right about what will happen if Cardoso is not elected in the 1st round. The 2nd round will take another 3 weeks and, in the interim, devaluation or at minimum currency attacks followed by multilateral packages with all the attendant onerous conditions will follow. In that case TBR is back to 50 and fast.

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