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

To: Steve Fancy who wrote (1291)	3/24/1998 2:05:00 PM
From: Paul Shread	Read Replies (1) \| Respond to of 22640

What's the best stock to own to take advantage of the Brazilian wireless boom? Would appreciate any input.

To: Steve Fancy who wrote (1291)	3/24/1998 5:26:00 PM
From: Steve Fancy	Respond to of 22640

Brazil shrs seen consolidating gains, eyes on Dow SAO PAULO, March 24 (Reuters) - Brazilian shares were seen consolidating gains Tuesday, with traders looking to Wall Street for direction during the session amid little fresh domestic market-moving news. <snip> Even the release of Telebras (TEL_p.SA) January earnings late Monday is not expected to have a strong impact on stock prices. Traders said Telebras' 350 million real net profit in January was in line with most market estimates. <snip> Analysts said, however, the January results of Telebras' main subsidiaries -- Telesp (TLS_p.SA), Telemig (TMG_pb.SA) and Telerj (TER_p.SA) -- could provide some underpinning for these telecom stocks. <snip> biz.yahoo.com

To: Steve Fancy who wrote (1291)	3/25/1998 11:55:00 AM
From: Steve Fancy	Respond to of 22640

Brazil shrs seen opening up, aided by foreign mkts SAO PAULO, March 24 (Reuters) - Brazilian shares looked set for a good start Wednesday, lifted by overnight rises in Asian stock markets and Tuesday's surge on Wall Street, traders said. <snip> Analysts said investors are waiting for a deeper correction in prices before they increase their positions in some stocks. <snip> biz.yahoo.com

To: Steve Fancy who wrote (1291)	3/25/1998 11:57:00 AM
From: Steve Fancy	Respond to of 22640

Brazil court seen ruling Wed on key cellphone case Reuters, Wednesday, March 25, 1998 at 09:49 BRASILIA, March 25 (Reuters) - A Brazilian high court was expected Wednesday to rule in a mobile phone license dispute, clearing the way for a resumption of the privatization of the country's key cellular sector, officials said. "The case will be taken up this afternoon, sometime after 1400 (local/1000 EST)," said a spokesman for the Superior Court of Justice (STJ). The STJ's failure to act on the Tess group's appeal of its disqualification from bidding on a license to operate in Sao Paulo state has held up the sale of Brazil's cellular B Band frequency since September. Tess, which includes Sweden's Telia, offered the highest bid for B Band area No. 2 concession but was later disqualified by the Communications Ministry. The issue has case has prevented the government from proceeding with the granting of five remaining licenses of the 10 B Band concessions tendered last April. Experts said further delays may prompt bidders to drop offers when they come up for renewal on April 7. Some analysts have said Tess, which offered 1.326 billion reais for the license, may well get the STJ to overturn its disqualification. If that happens, they said, it is doubtful the ministry will appeal. If Tess loses, the area No. 2 winner will be the Telet group. 2485413;james.craig@reuters.com)) Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (1291)	3/25/1998 11:59:00 AM
From: Steve Fancy	Respond to of 22640

Investors say Brazil survived Asia woes-BankBoston Reuters, Tuesday, March 24, 1998 at 19:46 BRASILIA, March 24 (Reuters) - BankBoston Corp. (NYSE:BKB) President Henrique de Campos Meirelles said Tuesday that global investors are feeling increasingly confident Brazil has survived well the fallout from Asia's financial crisis. "There is a consensus among investors that Brazil has overcome well the Asian crisis," he told reporters after meeting President Fernando Henrique Cardodo. Meirelles said BankBoston plans to invest $90 million in Brazil this year and expand its existing 44-branch network in the country to 64 offices by the end of 1999. Over the years, BankBoston has invested $8.0 billion in Brazil. Meirelles said he and several BankBoston board members met with Cardoso on Tuesday and discussed the government's policies on health care, education, privatization and economic stability. He described the meeting as "very positive" and said it was, "important for foreign businessmen to hear the president's outlook for Brazil." james.craig@reuters.com)) Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (1291)	3/25/1998 12:01:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's Telebras unit Jan nets for wireline only Reuters, Tuesday, March 24, 1998 at 18:49 BRASILIA, March 24 (Reuters) - January earnings released Monday by subsidiaries of Brazilian telecommunications giant Telebras (SAO:TEL_.P) did not include results for cellular services, officials said Tuesday. "This was because of the split," said a spokesman for Telerj (SAO:TER_.P), Telebras' unit providing wireline services in Rio de Janeiro state. Telebras' state-level operating subsidiaries were not divided, in preparation for the federal system's planned sale this year, into separate wireline and cellular companies until January 30. But preliminary January balance sheets released to the market Monday already excluded results for mobile phone services, officials at Telesp (SAO:TLS_.P), Telerj, Telemig (SAO:TMG) and other wireline subsidiaries told Reuters. "Because it occurred in January, the numbers from that month already reflect that split," said a spokeswoman for Telesp, which provides conventional wireline services in Sao Paulo state. Figures for the cellular A Band companies were not immediately available. "They should be released in about a week," said one official. A spokesman at Telebras, meanwhile, said the federal giant's preliminary holding company and consolidated January results included all services offered by the system, including wireline and cellular. "Our figures are for all areas," he said. Telebras, whose preferred share is the benchmark issue on Brazil's stock exchanges and a leading American depositary Receipt in New York, reported a consolidated January net profit of 350 million reais. It also said its holding company reported a net profit of 384 million reais. No comparative January 1997 figures were provided. Bank analysts said the failure of the subsidiaries to note that January numbers did not include mobile phone spinoff results confused the market. "That was really the only thing new in the numbers and initially it did cause some confusion in the market," one analyst said. Brazil plans to privatize Telebras in mid-1998. The company has 26 state-level operators, six of which are traded on local stock markets and required to report to the market quarterly, and long-distance operator Embratel. james.craig@reuters.com)) Copyright 1998, Reuters News Service