Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.520

-8.8%

2:57 PM EST

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To: Michael Burry who wrote (646)	1/5/1998 10:44:00 PM
From: DMaA	Read Replies (1) of 22640

Michael, great article. The one thing your research didn't reveal is the thing that has been bothering us: It is still unclear what ADR holders get in the privatization. Speculation ranges from stock in the concession of their choice to stock in each or several of the Telebras concessions. For its part, the government promises that holders of ADRs will receive their fair share. Somehow a government official saying "Trust us, we'll take care of you" gives me the willeys. Great stock for speculative portion of the portfolio though.

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