Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.590

-7.9%

Dec 23 3:59 PM EST

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To: Naveen Kumar who wrote (355)	11/10/1997 6:08:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Brazil to slash $734 mln from 1998 Telebras budget Reuters, Monday, November 10, 1997 at 13:17 BRASILIA, Nov 10 (Reuters) - Brazil's federal telecoms holding Telebras (SAO:TEL_.P">SAO:TEL_.P) will see its investment budget for 1998 cut by about 800 million reais ($734 million) as a result of a package of fiscal measures announced Monday. Jose Roberto Mendonca de Barros, executive secretary at the Finance Ministry, said Telebras (SAO:TEL) would account for 45 percent of 2.1 billion reais ($1.9 billion) which state companies must cut from their investment budgets as part of the fiscal austerity plan. Copyright 1997, Reuters News Service

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