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

To: Steve Fancy who wrote (637)	1/5/1998 12:53:00 PM
From: Steve Fancy	Respond to of 22640

PRESS DIGEST - Brazil - Jan 5 Monday January 5, 6:44 am Eastern Time RIO DE JANEIRO, Jan 5 (Reuters) - These are the highlights of the main Sao Paulo and Rio de Janeiro newspapers this morning. GAZETA MERCANTIL -- BRAZIL'S PRIVATIZATION PLAN LEADS REGION Brazil alone will account for about 80 percent of Latin America's privatizations in 1998. The country's privatizations may rake in $40 billion, including the sale of the federally owned Telebras system. -- ADR ISSUES ROSE 350 PCT IN 1997 Brazilian firms in 1997 issued a record $2.24 billion in American Depositary Receipts (ADRs), up 350 percent from the previous year.

To: Steve Fancy who wrote (637)	1/5/1998 12:57:00 PM
From: Steve Fancy	Respond to of 22640

Brazil moves on Telebras selloff plan BRASILIA, Jan 5 (Reuters) - Preparations for the sale of Brazil's telecommunications holding Telebras (TEL_p.SA)(NYSE:TBR - news; TEL.SA) were set to advance Monday with the expected approval of a spinoff of cellular services from fixed-line operations. In a statement, the Communications Ministry said Telebras' 26 state-level subsidiaries were due to hold assemblies throughout the day to approve the separation of the so-called A Band cellular services, a formality in the privatization plan. The next step would be to group the 26 cellular units into nine regional holdings before their sale as part of the Telebras privatization, the statement said. The government plans to sell the A Band companies to private investors who will compete against groups already offering cellular services on a rival B Band. The Communications Ministry authorized the split of the A Band operations from the fixed-line assets in December. The fixed-line services of the 26 state-level operators will be grouped into three regional companies which will be sold off later this year, along with long-distance carrier Embratel. Communications Minister Sergio Motta has said he expects the privatization of Telebras will earn the government at least $30 billion.