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

To: Steve Fancy who wrote (754)	1/19/1998 2:06:00 PM
From: DMaA	Read Replies (1) \| Respond to of 22640

Have to wait a while longer for earnings: Brazil's Telebras Won't Divulge 1997 Results Monday BRASILIA (Dow Jones)--Federal telecommunications holding Telecomunicacoes Brasileiras SA, known as Telebras (TBR), won't announce its 1997 earnings Monday, a spokesperson at the company's press office Monday told Dow Jones Newswires. The results had been widely expected by the market to be announced Monday. At 1600 GMT Telebras shares had tagged on 3.80 reals, or 3.2%, and stood at 121.8 reals per thousand shares in expectation of the announcement. A Telebras spokeswoman said the "announcement would definitely not be today" because the New York Stock Exchange is closed in celebration of the U.S. holiday honoring Martin Luther King. Telebras shares are significant American depositary receipts traded in the U.S. market. The spokeswoman said she could not confirm when the results would published. -By William vanvolsem; (5561) 244 3095; wvanvolsem@ap.org I expect earnings will be excellent. Don't want to sound too cynical but we all know US companies have a million tricks to make the bottom line look rosier. How much easier is it when a Govm't is doing the bookkeeping and at the same time is looking to sell it's stake? If they weren't proud of the results today would have been a good day to slip them out.