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 (987)	2/10/1998 2:00:00 PM
From: Steve Fancy	Read Replies (4) \| Respond to of 22640

Brazil's Telebras (SAO:TEL_.P) to cut line fee on Wed Reuters, Tuesday, February 10, 1998 at 13:50 BRASILIA, Feb 10 (Reuters) - Brazil's Telebras (NYSE:TBR), the federal telecommunications holding company set to be privatized later this year, said on Tuesday a sharp reduction in fees charged for installing fixed-line telephones would take effect on Wednesday. The cut, announced last month by Communications Minister Sergio Motta, will lower the installation charge to 50 reais ($44.44) from a current 80 reais.

To: Steve Fancy who wrote (987)	2/10/1998 9:06:00 PM
From: jeremy smith	Read Replies (1) \| Respond to of 22640

Steve (1) Yup, stock sure was stuck today. Especially at the time you posted your piece. But did you see where the price was at the time? I was actively involved there , and I recall the stock hitting a wall at 117 3/8. (this was when the local share was at 132.20). This is EXACTLY the strike price of the famous puts that expire next week. Although we have no way of knowing how the BNDES is exposed to these puts, (or the holders of them come to that), the simple fact is that the local market has been talking of nothing else for the past week. A psychological resistance point has been created as a result. Clearly, another 100 + day on the DOW takes us straight through - target 120. (2) I'll check on this tomorrow, but I think you are right that Cardoso technically needs to resign if he is going to run again. I'll find out how it works, and let you know. Jeremy