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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Art Baeckel who wrote (21266)	8/8/2000 11:30:33 AM
From: Art Baeckel	Read Replies (1) \| Respond to of 22640

Tuesday August 8, 10:22 am Eastern Time Bradesco to list Bradespar wing on Thursday SAO PAULO, Aug 8 (Reuters) - Bradespar Holding, the investment wing of Brazil's No.1 private bank Bradesco , will list on the Sao Paulo Stock Exchange (Bovespa) on Aug. 10, the exchange said on Tuesday. Bradesco shareholders will be entitled to am equivalent holding in Bradespar from Wednesday, Bradespar said in a statement published by the Bovespa. ``Controlling and minority Bradesco shareholders will, in the beginning, retain an identical holding in Bradespar,'' the statement said. Nova Cidade de Deus Participacoes S.A., part of the group that controls Bradesco and Bradespar, will later hold a buyback of Bradespar stock to give minority shareholders a chance to sell. The auction price will be 0.91 reais per block of 1,000 shares, it said. This price was calculated by the net value of the company divided by the number of shares on March 30, it added. Brazil's securities and exchange commission (CVM) on Monday approved Bradespar as a publicly traded company. Bradespar has stakes in the following companies: iron ore mining giant Cia Vale do Rio Doce (CVRD) (VALE5.SA); steel producer Cia Siderurgica Nacional (CSN) (CSNA3.SA); power company VBC Energia; cable TV and Internet provider Globo Cabo , and Internet firm Scopus Tecnologia.