Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

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To: wl9839 who wrote (21026)	6/9/2000 8:20:00 AM
From: wl9839	Read Replies (1) of 22640

Brazil's Govt to Sell Petrobras Shares on Aug. 1, Gazeta Says Sao Paulo, June 9 (Bloomberg) -- Brazil's government will sell 18 billion common shares, or 31.7 percent of all voting capital, in Petroleo Brasileiro SA on Aug. 1, Gazeta Mercantil newspaper reported, citing a report from the bank managing the sale. The sale could fetch 8.5 billion reais ($4.7 billion), using yesterday's closing price for the common shares. The sale of Petrobras shares will take place through auctions in Brazil and in New York and still needs approval by the Securities and Exchange Commission in the U.S. Petrobras was one of the biggest spenders in a Brazilian government auction for oil exploration rights Wednesday, snapping up seven of the 21 areas sold. (06/09/2000, p. A-1, or GZTA for Gazeta's Web site) -------------------------------------------------------------------------------- ¸ Copyright 2000, Bloomberg L.P. All Rights Reserved.

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