Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.450

-4.3%

Jan 23 9:30 AM EST

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To: wl9839 who wrote (21022)	6/6/2000 9:03:00 AM
From: wl9839	Read Replies (1) of 22640

Brazil Central Bank Sets Banespa Price at 1.6 Bln Reais: Valor Sao Paulo, June 6 (Bloomberg) -- The central bank has set a price of between 1.61 billion reais ($890 million) and 1.82 billion reais for the 33.3 percent stake of Banco do Estado de Sao Paulo SA, which will be sold this year, Valor Economico newspaper reported. The numbers were obtained in central bank documents sent to the Tribunal de Contas da Uniao, a special court in charge of overseeing government spending. That makes 100 percent of Banespa's capital worth between 4.9 billion reais and 5.5 billion reais, which is less than the 5.95 billion reais price set for the bank last year, when Sao Paulo state sold its stake to the federal government. Banespa's July 18 sale was suspended last week by a federal court decision. The government is appealing the decision at a higher court. (Valor, 06/06/2000 p. C1. {BRVA } to see the paper's Web site.) -------------------------------------------------------------------------------- ¸ Copyright 2000, Bloomberg L.P. All Rights Reserved.

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