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Strategies & Market Trends : Banco Wiese (NYSE:BWP) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (2)	6/7/1999 6:09:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 13

IF you "know" South America, then one should buy when the news are the worst, and sell when everything is bright and gentle. At least, that was valid for Brazil, and Argentina.

To: Glenn Petersen who wrote (2)	6/8/1999 9:01:00 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 13

Ahaa, Schurke, DJ Peru's Banco Wiese Shares Rise On Merger News LIMA (Dow Jones)--Shares in Peruvian bank, Banco Wiese Ltdo (BWP), rose sharply on Tuesday after news reports and a company official said the bank would end up with a larger-than-expected share in the newly formed bank, Banco Wiese-Sudameris. A report in business newspaper Gestion said Banco Wiese would gain a 38% share in the new bank, while newspaper Comercio said it would take a 37% share. A company official, who declined to be identified, said the number of 37% was "more or less right." However, one trader at a brokerage in Lima said their estimates place Banco Wiese's expected stake a little below those numbers. [Ed:those evile short sellers] Banco Wiese's share price had fallen sharply on worries that shareholders would keep only a small portion of the new bank after a merger with Banco de Lima. Banco de Lima is controlled by Sudameris, a unit of Italy's Banca Commerciale Italian (I.BAN). Banco Wiese was originally set to take about 47% in the new bank, while Sudameris would get 53%, but a closer look at the books caused a downward revision in estimates for Banco Wiese's stake. Wiese's share rose 10.7% on Monday on the Lima exchange to close at PEN0.83 ($1=PEN3.336). On Tuesday the stock was up sharply, trading at PEN0.93 in mid-day trade. -Robert Kozak 511 221-7050; RKozak@ap.org (END) DOW JONES NEWS 06-08-99 12:33 PM adr.com goto BWP / news