Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Steve Fancy who wrote (608)	12/26/1997 1:46:00 PM
From: Steve Fancy	Respond to of 22640

Sao Paulo bolsa halts trade in Banespa (SAO:BES) Reuters, Friday, December 26, 1997 at 12:22 SAO PAULO, Dec 26 (Reuters) - The Sao Paulo Stock Exchange said it suspended trade in Sao Paulo state bank Banespa (SAO:BES_.P) on Friday at the bank's request after it was transferred to the federal government. An exchange spokeswoman said Banespa requested the suspension because the bank will issue Monday a statement on its transfer to federal hands, which took place on Christmas Eve. The federal government took over Banespa as part of a major deal to restructure Sao Paulo's massive debt with Brasilia. Copyright 1997, Reuters News Service

To: Steve Fancy who wrote (608)	12/26/1997 1:55:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

The previous story bothers me somewhat. Is it possible that the Brazilian bank in question went bankrupt? A little suspicious they do this on Christmas Eve? Dosen't seem to have affected the stock negatively today. Glad my order to sell Jan 105p didn't go through. Will reconsider selling them Monday depending on what happens. I believe that long awaited January news will kick this stock into a new higher trading range. Happy holiday's to all. sf