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

To: Steve Fancy who wrote (630)	1/2/1998 9:24:00 PM
From: Tony van Werkhooven	Respond to of 22640

With respect to earnings not meeting expectations, it is my recollection that that occurred during the summer- but I could be off. I recall that, as a result of the monthly numbers not coming in on plan, analysts lowered the yearend numbers. Tony

To: Steve Fancy who wrote (630)	1/3/1998 1:38:00 AM
From: Steve Fancy	Respond to of 22640

Brazil shares end higher in first 1998 trading day SAO PAULO, Jan 2 (Reuters) - Brazilian shares closed higher in the first session of 1998, giving continuity to the rally seen earlier this week, dealers said. biz.yahoo.com

To: Steve Fancy who wrote (630)	1/3/1998 2:49:00 AM
From: Steve Fancy	Respond to of 22640

S.Paulo bourse cuts Telebras (SAO:TEL_.P) index weight Reuters, Friday, January 02, 1998 at 09:44 SAO PAULO, Jan 2 (Reuters) - The Sao Paulo Stock Exchange (Bovespa) said Friday it revised the portfolio of its benchmark Bovespa index, lowering the weighting of Telebras preferred (SAO:TEL_.P">SAO:TEL_.P) and raising that of Telebras' subsidiaries. The Bovespa said it lowered the weighting of Telebras preferred, the most actively shares traded on the Bovespa, to 40.34 percent from a previous 41.77 percent of all 51 shares comprising the index. Telebras ordinary shares (SAO:TEL) were also lowered to 5.25 percent from a previous 6.67 percent, it said. The Bovespa portfolio is reviewed every four months according to the stocks' recent volatility, liquidity and turnover in the market, a Bovespa spokeswoman said. The Bovespa said Telesp preferred (SAO:TLS_.P) now accounted for 3.80 percent, up from a previous 2.92 percent. Telerj preferred (SAO:TER_.P) now represented 0.78 percent, up from 0.62 percent and Telepar preferred (SAO:TEL_.P) 0.37 percent, up from 0.30 percent, it added. The Bovespa said it also slightly lowered the participation of Eletrobras preferred B (SAO:ELE_P.B) while raising the weighting of Eletropaulo preferred (SAO:ELE_.P), Cesp preferred (SAO:CES_.P), Cemig preferred (SAO:CMI_.P) and Light ordinary (SAO:LIG). The bourse said Celesc preferred B (SAO:CLS_P.B) was added to the index, replacing Cofap preferred (SAO:FAP_.P). Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (630)	1/3/1998 3:15:00 AM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil to choose Telebras advisers Monday - report Reuters, Friday, January 02, 1998 at 17:34 SAO PAULO, Jan 2 (Reuters) - Brazil's Communications Ministry is expected to announce the advisers on the privatization of the country's telecom holding company Telebras (SAO:TEL_.P) on Monday, a local news agency reported Friday. The federally-owned holding's fixed telephone services will also be formally split from its cellular services on Monday, Invest News said. Officials at the ministry were not immediately available to comment on the report. Brazil last month authorized splitting cellular A Band services from Telebras' subsidiaries in preparation for its privatization by mid-1998. The government also published an edict then allowing the creation of 26 separate A Band mobile phone companies from cellular services spun off from each of its 26 local operating units. The government was also expected to select advisors on the company's privatization scheme. Brazil's National Development Bank (BNDES) has said it received proposals from consultants interested in providing advice on the sale of Telebras. Only one consortium, led by Arthur D. Little Ltda, presented a proposal for the so-called "A" service, which involves an economic and financial evaluation of the company. Four groups presented bids for the "B" Service, involving an economic and financial evaluation and developing a model for the sale. They were: -- Consortium Nova Telebras, led by Brazilian investment bank Banco Garantia; -- Consortium Telebrasil 2000, led by local investment bank Banco Fonte Cindam; -- Consortium Brasilcom, led by Salomon Brothers; -- Consortium Telebrasil, led by Metal Data Engenharia e Representacoes Ltda. Copyright 1998, Reuters News Service ================================= Is this the news that a news source recently reported wouldn't happen until February? sf