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

To: Steve Fancy who wrote (1313)	3/25/1998 3:24:00 PM
From: Steve Fancy	Read Replies (2) \| Respond to of 22640

Brazil denies rumor Motta's health deteriorating Reuters, Wednesday, March 25, 1998 at 15:14 BRASILIA, March 25 (Reuters) - Brazil's government on Wednesday denied market rumors that Communications Minister Sergio Motta's health has deteriorated while in the United States for a comprehensive medical exam. <snip> Some sources even said rumors were swirling in the market that Motta, 56, had died while in the United States. <snip> quote.com

To: Steve Fancy who wrote (1313)	3/25/1998 3:35:00 PM
From: Steve Fancy	Respond to of 22640

Brazil shrs down at closing bell on Motta rumors Reuters, Wednesday, March 25, 1998 at 15:25 SAO PAULO, March 25 (Reuters) - Brazilian shares were 1.23 percent lower at 11,759 points at the closing bell Wednesday, pressured by rumors late in the session about the health of Communications Minister Sergio Motta, brokers said. Traders said the bolsa extended losses following rumors, denied by Brazil's Communications Ministry, that Motta, who is currently in the United States for a medical check-up linked to respiratory troubles, had died. "It was basically the rumor about Motta that depressed prices... with help from a weaker Dow," said a trader, noting that Wall Street's slide contributed to the late selling spree. Motta runs Brazil's closely-watched telecommunications selloff program. He flew to Denver over the weekend for a comprehensive medical exam after he was diagnosed with acute pulmonary inflammation. His respiratory troubles left him hospitalized for nearly a month in Sao Paulo last year. Motta asked for a leave of absence starting last Saturday, but ministry officials did not say when he would be back to work. Preferred stocks of federal telecommunications holding Telebras preferred (SAO:TEL_.P), the Sao Paulo bolsa's benchmark issue, was over one percent lower at 148 reais at the closing bell. fatima.santos@reuters.com)) Copyright 1998, Reuters News Service