Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.450

+3.0%

Feb 2 3:56 PM EST

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To: Jerry A. Laska who wrote (6254)	8/3/1998 3:40:00 PM
From: Jerry A. Laska	Read Replies (3) of 22640

All groups make initial payment for Telebras-bolsa RIO DE JANEIRO, Aug 3 (Reuters) - All consortia that last week bought Telebras' (TBR - news; TELB4.SA) 12 holding companies made an initial payment for the units, the Rio de Janeiro Stock Exchange said on Monday. Groups were required to exchange financial guarantees they deposited for checks worth 40 percent of the price paid for each holding, the bolsa said. Some of the world's leading telecommunications companies such as Spain's Telefonica (TEF.MC), U.S.-based MCI Communications Corp. (MCIC - news) and Telecom Italia (TIT.MI) acquired Telebras' three fixed-line units, cellular operators and long-distance carrier Embratel. Brazil raised $19 billion with last week's massive sale of Telebras. biz.yahoo.com

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