Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.956

-0.1%

Nov 25 3:59 PM EST

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To: Steve Fancy who wrote (1248)	3/19/1998 3:00:00 PM
From: Steve Fancy	Read Replies (1) of 22640

Portugal Telecom (NYSE:PT) details Telebras stake buy Reuters, Thursday, March 19, 1998 at 14:52 NEW YORK, March 19 (Reuters) - State-controlled Portugal Telecom (LIS:PTCO) on Thursday said it has spent about 87.8 million reais to acquire ordinary shares in Brazil's Telebras SA (SAO:TEL_.P) and in Sao Paulo company Telecomunicacoes de S. Paolo SA, (SAO:TLS) or Telesp. PT said the amount it invested is equivalent to the amount invested by Telebras in Portughal Telecom -- directly and through their Alianca Atlantica joint venture -- during the third segment of Portugal Telecom's privatization. Portugal Telecom, privatized in June 1995, is the nation's principal telecommunications provider. Earlier it had announced in Lisbon that it had acquireed Telebras and Telesp stakes without providing details. Copyright 1998, Reuters News Service

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