Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.990

-2.5%

Nov 4 3:59 PM EST

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To: Telemarker who wrote (12316)	1/23/1999 9:19:00 PM
From: David Petty	Read Replies (1) of 22640

Telemarker hi! I am sure they had GOB's commitment to continue the roughly 7.5% slow devaluation per year, but nothing of a legal nature. Anatel controls all of this for the moment and I am sure there will have to be downward revisions to the mandated goals of some of the babybras in regards to line growth, etc; in fact I think Anatel has already made some concessions. I may have misunderstood the payment arrangements, but I was assuming that the devaluation actually helped the foreign (for the most part) buyers as far as the balance of the original purchase price since they would be getting more reals for their foreign dollars. It obviously hurts their on going operations which are all based on the Real. For the moment, since all the research in the world as to the internals of the babybras is wasted because of the external factors... I am now on the sideline except for 2 positions in July options on TNE and UBB, a substantial number of TBR shares just in case, and my off and on daytrades. As to your question "any thoughts"... I kinda got "thoughted out" between early November and approx 2 weeks ago. Later, David II

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