Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.896

-0.9%

Nov 21 9:30 AM EST

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To: Oracle who wrote (6688)	8/15/1998 4:49:00 PM
From: Steve Fancy	Read Replies (2) of 22640

Oracle, just thought I'd remind us of another unknown yet potentially powerful force. The fact that no single piece of TBR will control 39% of the Ibovespa index any longer. Should actually allow them to move up on down days and will help remove volatility come Bovespa options expiration. I believe if market conditions are supportive that TBR will advance ahead of the sale. TBR is heavily followed...I still bet there's a lot of wait and see money waiting to jump on the train at various points between here and 130. I still believe that the train will pick up momentum quickly as it leaves the station. An interesting (that word again) exercise over the next couple of days may be to try and project the percentage of TBR value each of the 12 components will be assigned as they split. I'm assuming at this point that 8-9 may list all the same day based on the doc from NYSE a week or so ago. I'll look back to that Diawa report tonight. sf

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