Telebras (TBH) & Brazil Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.952

-7.6%

Nov 10 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: wl9839 who wrote (22334)	6/5/2001 6:00:57 PM
From: Steve Fancy	Read Replies (1) of 22640

Salomon Upgrades Brazil Telemar To `Outperform' Versus `Neutral' Dow Jones Online News, 06/05/2001 17:24 NEW YORK -(Dow Jones)- Salomon Smith Barney Tuesday raised its rating on Brazilian fixed-line telecommunications group Tele Norte Leste Participacoes SA (TNE) following news the company would consolidate the shares of its 16 operating units. Salomon upgraded Telemar, as Brazil's largest phone company is known, to `outperform' from `neutral.' Telemar announced its plans - which will be finalized over the next three weeks - late Monday. "In our view, restructuring will clean up (the) existing shareholder structure and allow (the) company to generate synergies between its subsidiaries more quickly," Salomon said in a report. "In addition, restructuring could open up an avenue of additional funding for (Telemar) and this would alleviate funding concerns in the medium/long term," the report added. Salomon said it was reducing its price target for Telemar shares to $20, given the company's large capital expenditure needs this year. Telemar shares traded in New York closed 2.1% higher at $16.22 Tuesday. A total of 2.05 million shares traded hands, more than double the daily average volume for the company. -By Stephen Wisnefski, Dow Jones Newswires; (201) 938-5692; stephen.wisnefski@dowjones.com (This story was originally published by Dow Jones Newswires) Copyright (c) 2001 Dow Jones & Company, Inc. All Rights Reserved

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next