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

To: DMaA who wrote (571)	12/15/1997 12:04:00 PM
From: Steve Fancy	Read Replies (2) \| Respond to of 22640

It's my understanding that somehow the shares of the 13 new companies will be distributed to existing TBR holders. They have not yet clarified how, or in what proportion's these share will be split, but they have consistently maintained that the little guy will not get shafted. The specific details if I understand correctly, will be released in January, and they supposedly will answer most remaining questions. One option would be to trade baskets of shares for each TBR share, with a cash settlement for partial shares? I don't know how else they could do it. I will likely get out sometime as the bidding process starts and re-evaluate the situation after the break-up. It's my understanding that a couple of the new companies will be the most desireable to own. It will not be in their best interest to create unhappy shareholders, in that it seems to me that they want the stock prices as high as possible come bidding time...not to mention that one of their banks sold 300 million worth of 132 real puts that I believe expire in March.