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

To: Steve Fancy who wrote (1335)	3/26/1998 5:48:00 PM
From: DMaA	Read Replies (2) \| Respond to of 22640

There's this, doesn't state the div amount though. 3.75 would be 2.84% at todays closing price so, within the realm of possibility. Options Report: Telebras Trading Surges On Dividend News By Steven M. Sears NEW YORK (Dow Jones)--Telecomunicacoes Brasileiras S.A. is active as traders execute a variety of strategies to capture the dividend. An options trader in the pit at the Chicago Board Options Exchange said they just got news Thursday that the record date for the dividend is April 7. Traders had been expecting the record date to be after expiration on April 17. Active contracts include the April 140 calls and the April 125 puts. In addition, the trader said Latin American stocks are trading strongly. Another options trader said some of the activity in Telebras was traders betting on additional gains. The stock is up 2 1/8 to 132 1/4. Telebras, Brazil's holding company for the largest telecommunications system in the southern hemisphere, will be split into three conventional phone companies, eight cellular services and one long distance operator for privatization in June.