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To: Electric who wrote (26923)	10/25/1997 1:00:00 PM
From: ViperChick Secret Agent 006.9	Read Replies (1) \| Respond to of 58727

electric - TBR <Nice pic... I will have to be looking often.. ~ggg~> My company or CaT Babe/Scarlett/ Zena?....I dont know if you are male or female...of course in the day and age of Ellen it doesnt really have a bearing on what pic you liked btw, what site can I get this Nobel Prize winning tool you are using off the net...anyone know? Kevin bought some OEX puts when SPX and SPZ BOTH give confirming levels and closed them out for 7 grand profit. I think his tool reading for the indices is really coming along. I didnt trade a thing. I thought it was going to be a Fade rally (remember that question asked on the Idea's thread) but didnt get out of my call soon enough...I thought it would be more of a rally...it faded PDQ! TBR...I liked the way it acted on Friday...BUT here is an article for you to consider...However, since you have Jan I am sure you will make some dough Details still seen missing on Telebras sale plan By James Craig SAO PAULO, Oct 24 (Reuters) - While confirming most expectations, Brazil's Telebras(TBR - news) sale model has left unanswered crucial questions about the future of Latin America's largest telecom, analysts said Friday. The privatization blueprint outlined Thursday by Communications Minister Sergio Motta lacked information on when competition would begin in the sector and put stock owners on edge about compensation for their holdings, they said. ''The market needs more details,'' said Auro Rozenbaum, telecoms analyst with Deutsche Morgan Grenfell in Brazil. In a three-hour news conference, Motta allayed some concerns by sketching out Telebras' pre-privatization break up into 13 companies and announcing each Telebras (TEL_P.SA) (TEL.SA) share would be split 13 ways, analysts said. But investors want more details on the rules for competition in fixed and long-distance services, limits on foreign capital and the impact on overseas shareholders and minority stock owners of its subsidiaries will be affected, they said. Of particular concern is the fate of Telebras' American Depositary Receipts (ADR), a leading Latin American ADR in New York. ''This is a very serious issue for U.S. investment funds that do not have Annex IV status,'' said Paribas analyst William Beavington, referring to rules that allow foreign investors to buy and sell shares in Brazil. Motta on Thursday unveiled details of Brasilia's plan to divide up Telebras ahead of its mid-1998 selloff into three regional fixed-line holding companies, nine cellular firms and long-distance operator Embratel. He added that Telebras stock would be split 13 ways with one share from each of the new companies. Analysts said it will be fairly easy to list the regional holdings and Embratel in the United States as ADRs ahead of the privatization but less likely with the nine cellular phone firms. ''It's very unlikely, by June next year, for the nine wireless companies to get Level One ADR status,'' Beavington said. Analysts also said holders of Telebras's state-level units are waiting to learn the rate at which they will be able to swap their shares for new company stock. For his part, Motta declined to discuss the specifics of share splits and swaps, saying a pre-sale financial evaluation must be conducted before the details can be given. Analysts said his news conference on the selloff model also was short on detail and a time-table for the introduction of competition for in local wireline and, particularly, long-distance services. Motta said he expected total competition in the telecoms sector in three to five years but the exact time frame would drafted by consultants advising the government on the privatization of Telebras. The government would offer fixed-line concessions within the areas served by the regional holdings, as well as allow competition for Embratel. ''Long-distance is Telebras' cash-cow,'' Paribas' Beavington said. ''As long as they keep Embratel competition-free, Telebras will continue to be one of the most attractive options in Latin American telecoms.'' Wireless competition is expected to begin almost immediately as Brazil is now selling off licenses to operate in 10 B Band frequency concessions that would coincide with the nine A Band Telebras spin offs, analysts said.

To: Electric who wrote (26923)	10/27/1997 9:10:00 AM
From: Kevin	Read Replies (2) \| Respond to of 58727

>>>Kevin bought some OEX puts when SPX and SPZ BOTH give confirming levels and closed them out for 7 grand profit. I think his tool reading for the indices is really coming along. <<< Hi Electric. Lisa may be right...my index tool seems to be doing really well lately. However I do want to point out that although I made 7K on a very fast trade on the OEX Friday, I'm losing about 12K on TXN right now. Wouldn't want people to think I'm actually doing well :-( Talk to you later. Kevin