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

To: Z Analyzer who wrote (22393)	7/15/2001 8:14:41 AM
From: Tony van Werkhooven	Read Replies (2) \| Respond to of 22640

Z - The Bovespa reflects local currency, while TBH is in US $$. With the devaluation several years ago, the value of the real was roughly halved. More recently, with the Argentine crisis and the projected power emergency, the currency has continued to depreciate, to roughly 2.6 reals to one dollar. The phones are cheap in an absolute sense, however this reflects substantial currency and economic risk. So, you evaluate and take your chances. Hope this helps. Tony