Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.437

+7.8%

3:52 PM EST

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To: djane who wrote (7901)	9/11/1998 3:18:00 PM
From: Steve Fancy	of 22640

Telebras Units To Trade First In Brazil, Then U.S. -Estado Dow Jones Newswires RIO DE JANEIRO -- The 12 spin-offs of Telecomunicacoes Brasileiras SA (TBR), known as Telebras, will trade in Brazilian exchanges before they list on the New York Stock Exchange, the Estado news agency reported Friday, citing an anonymous source with local securities regulators. If it materializes, the plan will mark a departure from a previously announced strategy under which trading would begin simultaneously in the U.S. and Brazil. The Stock Market Commission, or CVM, is expected to make a formal announcement regarding the listing later in the day. -By Geraldo Samor; 55-21-580-9394; gsamor@ap.org

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