Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.404

-14.1%

Dec 31 3:59 PM EST

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To: Steve Fancy who wrote (608)	12/26/1997 1:46:00 PM
From: Steve Fancy	of 22640

Sao Paulo bolsa halts trade in Banespa (SAO:BES) Reuters, Friday, December 26, 1997 at 12:22 SAO PAULO, Dec 26 (Reuters) - The Sao Paulo Stock Exchange said it suspended trade in Sao Paulo state bank Banespa (SAO:BES_.P) on Friday at the bank's request after it was transferred to the federal government. An exchange spokeswoman said Banespa requested the suspension because the bank will issue Monday a statement on its transfer to federal hands, which took place on Christmas Eve. The federal government took over Banespa as part of a major deal to restructure Sao Paulo's massive debt with Brasilia. Copyright 1997, Reuters News Service

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