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

To: Steve Fancy who wrote (1174)	3/11/1998 1:45:00 PM
From: DMaA	Read Replies (2) \| Respond to of 22640

Fewer kind words this time?

To: Steve Fancy who wrote (1174)	3/11/1998 2:07:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Telefonica deal with PT seen securing Brazil mkt By Simon Gardner MADRID, March 11 (Reuters) - An imminent deal between Portugal Telecom (PTCO.IN) and Spain's Telefonica (TEF.MC) is expected to secure the Spanish carrier's grip on the key Brazilian market, analysts said on Wednesday. biz.yahoo.com

To: Steve Fancy who wrote (1174)	3/11/1998 2:11:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's Cardoso declares war on unemployment Reuters, Tuesday, March 10, 1998 at 22:09 BRASILIA, March 10 (Reuters) - Brazilian President Fernando Henrique Cardoso declared "war" against rising unemployment Tuesday, a week after the official jobless rate soared to its highest level in 13 years. Ministers attending a cabinet meeting scheduled for Friday would discuss ways of expanding existing job-creation and training programs, Cardoso said in a weekly radio address. "It is to declare war on unemployment that I am bringing together my government team Friday," the president said. Brazil's official unemployment rate jumped sharply to 7.25 percent in January, up from 4.84 percent in December, the National Statistics Office announced last week. Trade union groups say that in the industrial heartlands of Sao Paulo, the real jobless rate is more like 17 percent, the result of fierce competition in Brazil's once protected economy. While Cardoso remains clear favorite to win a second term in October's presidential elections, polls also show that unemployment is a major concern among voters. In his address, the president also said Brazil's towering interest rates would continue to fall "whenever the conditions allow it." Brazil's Central Bank doubled its benchmark interest rate to 43 percent annual in October to ward off attacks on the currency by speculators at the height of Asia's financial crisis. Since then the rate has fallen to 28 percent, but economists and company executives say that until further cuts are made there will be little economic growth, keeping unemployment high. Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (1174)	3/11/1998 2:13:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil court again delays ruling on B Band appeal Reuters, Wednesday, March 11, 1998 at 13:51 SAO PAULO, March 11 (Reuters) - A Brazilian high court will not rule Wednesday on a disputed cellular concession in Sao Paulo state, but will likely take up the isue at its next meeting on March 25, an official said. "It is not on the agenda for today, but it will probably be discussed at the next meeting," said a spokesman for Brazil's Superior Court of Justice (STJ). He did not know why the ruling was being delayed. The privatization of Brazil's cellular sector has been held up for months by the court's delay in ruling on the case, which involves an appeal by a group including Sweden's Telia. The Tess consortium last September appealed its disqualification by the Communications Ministry from bidding on a prized wireless B Band license covering non-metropolitan Sao Paulo. A host of foreign and domestic investors have been waiting ever since for a ruling in the case so that the government can finish awarding its five remaining B Band concessions before April 7. On that date, the consortia, which all placed offers a year earlier on the 10 B Band concessions, would have to automatically increase bids by 20 percent to account for inflation and depreciation of the real currency. Analysts said the requirement to raise the offers as well as the approach of fresh sell-offs in Brazil's cellular sector would prompt some to drop their bids to instead take part in upcoming A Band tenders. james.craig@reuters.com)) Copyright 1998, Reuters News Service