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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: Steve Fancy who wrote (9593)11/11/1998 1:52:00 PM
From: Steve Fancy   of 22640
 
CBOE to list options on ADS of Telebras spinoffs

Reuters, Wednesday, November 11, 1998 at 12:18

CHICAGO, Nov 11 (Reuters) - The Chicago Board Options
Exchange (CBOE) said it will list options on six ADSs of
Brazilian companies spun off from Telebras (SAO:TEL_.P).
The ADS, which will start trading on November 18, are
Telesp Participacoes S.A. (NYSE:TSP), Tele Centro Sul
Participacoes S.A. (NYSE:TCS), Tele Norte Leste Participacoes S.A.
(NYSE:TNE), Embratel Participacoes S.A. (NYSE:EMT), Telesp Celular
Participacoes S.A. (NYSE:TCP) and Tele Sudeste Celular
Participacoes S.A. (NYSE:TSD).
LETCO L.P. has been named the designated primary market
maker in all of the options.
Telesp Participacoes provides local telecommunications
services to the Brazilian state of Sao Paulo.
Tele Centro Sul Participacoes provides local
telecommunications services to the southwestern region of
Brazil.
Tele Norte Leste Participacoes provides local
telecommunications services to the northern and eastern regions
of Brazil.
Embratel Participacoes provides long-distance
telecommunications services in Brazil.
Tele Sudeste Celular Participacoes provides cellular
telecommunications services to the Brazilian states of Rio de
Janeiro and Espirito Santo.
Telesp Celular Participacoes provides cellular
telecommunications services to the Brazilian state of Sao
chicago.derivatives.newsroom@reuters.com))

Copyright 1998, Reuters News Service
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