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Strategies & Market Trends : Telebras (TBH) & Brazil
TBH 1.170+6.4%Nov 12 3:59 PM EST
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To: Steve Fancy who wrote (7353)9/1/1998 11:44:00 PM
From: Steve Fancy  Read Replies (2) of 22640
 
Brazilian court dashes Collor comeback plan

Reuters, Tuesday, September 01, 1998 at 23:31

BRASILIA, Sept 1 (Reuters) - Former Brazilian president
Fernando Collor conceded defeat on Tuesday in his bid to run in
next month's presidential elections after a supreme court ruled
against it.
"We're out, that's the end," said a spokesman for Collor
shortly after the Supreme Federal Tribunal (STF) upheld a ban
on his holding elected office until 2000.
Collor was a virtual unknown state governor when he was
elected president in 1989 on a pledge to clean up corruption.
But he resigned in 1992 as Congress prepared to impeach him
on allegations of influence-peddling. Soon afterwards the
Senate banned him from holding elected office for eight years.
Although the STF cleared Collor of criminal corruption
charges in 1994, the ban remained in place.
An injunction after a barrage of appeals allowed Collor to
appear for one day last month in television slots reserved for
candidates in the presidential elections on October 4.
Collor's spokesman said the former president now had his
sights on the 2002 presidential elections.
"All that's left is 2002, and that one we will win," he
said.
Incumbent President Fernando Henrique Cardoso is widely
expected to win a second term in October on the strength of his
efforts to slash inflation to an expected 1.5 percent in 1998.

Copyright 1998, Reuters News Service
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