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

To: jeremy smith who wrote (1447)	4/4/1998 12:56:00 PM
From: Madharry	Respond to of 22640

Jeremy as a pro do you have an opinion as to why the dollar is so strong against the yen. After all who is runing the trade surplus here. To me it would seem that the yen is very undervalued against the dollar. Re TBR how do the Band B sales impact the valuation?

To: jeremy smith who wrote (1447)	4/4/1998 2:17:00 PM
From: Steve Fancy	Respond to of 22640

Jeremy, welcome back! Really appreciate your time and effort...when it comes right down to it, it just helps us all. Any idea which major US houses were selling, and who is buying? Don't know if you saw the post form Michael in Brazil, but he seemed to feel they were just looking for excuses to sell Friday...seems to jive with all the rumors popping up all of a sudden. Regarding the NYSE listings, I hear your concerns, but these seemed like pretty strong statements from the right people. Can't imagine that Salomon would jeopardize their credibility unnecessarily...seems this would defeat the whole purpose of their lowball bid. >>NEW YORK -(DOW JONES)- The 12 units of Brazil's telecommunications holding concern Telecomunicacoes Brasileiras SA, or Telebras, will each trade their own American depositary receipts, or ADRs, the director of privatization for Brazil's National Development Bank said Friday. The official, Jose Luis Pio Borges, told Dow Jones Newswires that BNDES and privatization advisors Salomon Smith Barney are confident that all 12 units will qualify for a listing on the New York Stock Exchange under the NYSE's most stringent requirements, also known as level 3. "Some are going to be very liquid, and others may not be so liquid,"Borges said. "But on average, liquidity is going to increase," he said in addressing investor concerns over the future trading structure of the current Telebras ADR (TBR).<< Seems the Nikkei is overdue for a breather. I guess I've been expecting news out of Japan soon, valid or not, to help counter their tanking market. We'll see. I feel like this thread has been a powerhouse of information on TBR lately, but we still need lots of help. Do you know if the 26 wireless companies are trading in Brazil? Is there somewhere on the web we can get closing prices? Thanks again for your input. Although it's impossible, I'm trying to help keep us all a step ahead. I believe we've had news here before it was widely known in the US, thanks to a growing base of contributors. I was disappointed we couldn't find someone in Colorado to check the hospital and report on Motta, but can't win em all I guess. regards, sf

To: jeremy smith who wrote (1447)	4/4/1998 2:45:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 22640

As an aside, I was really interested to read on this thread that the Brazzos say there WILL be level 3 ADRs on all 12 TBR spin-offs. Far be it from me to argue with them, but I am very very doubtful of this. Possibly we might see a level 1 "pink sheet", but full NYSE listing???? I don't think so! Not so much an aside. This IMO is fairly critical. If I'm going to own NYSE stocks vs. pink sheets, I want to know why. Look at ELAMF and DSWLF to see how foreign small stocks are treated off the NYSE. Could you help me understand why you think this? Thanks in advance? Mike