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

To: DMaA who wrote (1050)	2/17/1998 3:58:00 PM
From: Steve Fancy	Respond to of 22640

BNDES reaffirms plans to sell Telebras by June 30 Reuters, Tuesday, February 17, 1998 at 15:38 RIO DE JANEIRO, Feb 17 (Reuters) - The vice-president of Brazil's National Development Bank (BNDES) Jose Pio Borges reiterated on Tuesday the government's plans to privatize federal telecom holding Telebras (NYSE:TBR) (SAO:TEL) (SAO:TEL_.P) by June 30. The statement came after a local newspaper in its Tuesday's edition reported the sale process could be delayed because of the consultancy work. Earlier today, the BNDES named the winning groups of contracts to advise on the Telebras selloff. A consortium led by Travelers Group Inc (NYSE:TRV) unit Salomon Smith Barney won the contract consisting of an economic and financial assessment of Telebras and the development of a sale model. A group led by Arthur D. Little Ltda was awarded a contract that only consists of the financial and economic evaluation of Telebras. The contracts are expected to be signed mid-March. Copyright 1998, Reuters News Service

To: DMaA who wrote (1050)	2/17/1998 5:13:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

David...apparently an article is circulating on Dow Jones that I can't find regarding concerns over the ADR's. Not sure who's concerned, but I believe NYSE. From what I understand, the belief is that that each ADR will represent 1 share (adr?) of each of the 12 newly formed companies. NYSE is concerned that some of these companies won't fit their requirements, but apparently exceptions can be made. From what I understand, Brazil will reveal these details soon...maybe yet this week? Can you find the story? Thanks. sf