Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.499

+14.1%

1:44 PM EST

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To: lebo who wrote (9778)	11/18/1998 10:34:00 AM
From: Steve Fancy	of 22640

Brazil Commun Min To Answer Telebras Sale Allegations Thurs Dow Jones Newswires BRASILIA -- Brazilian Communications Minister Luiz Carlos Mendonca de Barros will appear before the Senate Thursday to respond to allegations that he tried to influence the privatization of Telecomunicacoes Brasileiras SA (TBR), the Senate office said Tuesday. A Senate communique said the minister will address the upper house at 1200 GMT Thursday to defend himself against accusations arising from tapped telephone conversations between himself and government-owned National Development Bank (BNDES) President Andre Lara Resende about the sale of the telecommunications giant. Both have denied allegations of wrongdoing, saying the published version of their conversations was "edited and incomplete". They also have vowed not to resign their posts. At his daily press briefing Tuesday, presidential spokesman Sergio Amaral confirmed both officials had the full trust of President Fernando Henrique Cardoso and will continue in office. The secretly recorded phone calls - published by a news magazine last Sunday - suggest that both men tried to favor a consortium of personal friends in its bid for one of the Telebras units. Telebras' 12 units were auctioned on July 29. -By William Vanvolsem; 5561 244 3095; wvanvolsem@ap.org

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