Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.403

-0.7%

12:39 PM EST

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To: Steve Fancy who wrote (21036)	6/13/2000 8:01:00 PM
From: steve kammerer	Read Replies (1) of 22640

June 12, 2000 Brazil Maranhao State Bank Auction Min Price BRR90.5M Dow Jones Newswires SAO PAULO -- Brazil's state of Maranhao will auction off its bank, Banco Do Estado de Maranhao SA, for a minimum price of 90.5 million reals, according to a notice published in newspapers Monday. The privatization has been set for July 12 on the Rio de Janeiro stock exchange. The state plans to auction a single block representing 89.9% of the bank's shares for a minimum value of BRR85.9 million. An additional 10% will be offered to employees. The institutions pre-qualified to participate in the privatization auction are Banco Bradesco SA (E.BBR), Banco Itau SA (E.BIT) and Unibanco - Uniao de Bancos Brasileiros SA (UBB).

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