Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.545

+1.9%

3:59 PM EST

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To: lebo who wrote (9730)	11/16/1998 4:33:00 PM
From: Steve Fancy	of 22640

BNDES's Borges defends role in Telebras sale - RTV Reuters, Monday, November 16, 1998 at 14:24 NEW YORK, Nov 16 (Reuters) - Brazil National Development Bank (BNDES) Vice President Jose Pio Borges defended the bank's role in the privatization of Brazilian telephone company Telebras (NYSE:TBR)(SAO:RCTB40), saying all proper procedures had been followed. In an interview with Reuters Television, Borges said he was confident "that we have not done anything wrong." Earlier on Monday, Brazilian Communications Minister Luiz Carlos Mendonca de Barros said he would not resign over media allegations that he showed favoritism in the $19 billion privatization of the phone company. The commmunications minister and Borges were in New York for the launch of the 12 Telebras spin-offs as American Depository Receipts. Copyright 1998, Reuters News Service

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