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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 0.550+2.8%Jan 9 9:30 AM EST
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To: Steve Fancy who wrote (596)12/18/1997 1:37:00 AM
From: Uncle Mikey   of 22640
 
Steve - the article in the WSJ is not exactly as it was interpreted here. The selling that took place in Brazil was not in TBR but in small local companies. When someone signed up for phone service is such and such a place they were issued X number of shares in THAT company. When the opportunity came to sell those shares people rushed out and sold en mass. That caused the stocks of these small companies to drop 20% or more in the past couple of days.

I suppose you could say that TBR was impacted in that it had to compete with all those telco shares turned loose in the market, but the article did not say that, it refered only to the stocks of these small companies.

Mike
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