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

To: David R. Doerr who wrote (1459)	4/6/1998 11:41:00 AM
From: EPS	Read Replies (1) \| Respond to of 22640

Hi, Good question....!!!!!!!! Meantime there does not seem to be a direction in the market..Steve are you there?? Here are some fresh news from Brazil.. Victor Vicunha wins license for B band Area 4 - rpt Bras¡lia, 03 - The Vicunha Telecomunica‡oes Consortium -- formed by Vicunha (36.95%, Globopar/Bradesco (19.9%) and by Italian-owned STET (43.15%) -- won the licese to operate the cellular telephone services in the Area 4 of the so-called B Band, comprising the Minas Gerais State. The consortium offered US$510m (the minum price was established at R$400m), representing a premium of 30%. The Vicunha consortium has also won the license to operate the B Band in the states of Bahia and Sergipe. (By Jos‚ Ramos and N‚lia Marquez) Gov't has raised R$7.147bn with Band B concessions With the sale today of the license to operate the area 4 (covering the state of Minas Gerais) of the B band cellular telephone services see related story, the government has already raised R$7.147bn with the granting of cellular services concessions, well above the minimum prices established for those areas: R$3.690bn The minimum prices set for the two remaining areas -- area 5 (Paran and Santa Catarina states) and area 6 (Rio Grande do Sul state) amount to R$600m. Those areas' call for tenders are slated for next Tuesday and April 15, respectively. The government has been commemorating the promptness with which the companies have been honoring their payments, and in some cases, even anticipating them, since those consortiums have a three-year period to settle their debts. (By Gustavo Paul)

To: David R. Doerr who wrote (1459)	4/6/1998 3:02:00 PM
From: Steve Fancy	Respond to of 22640

David, if you scan the thread for the last two weeks or so you'll find all kinds of conversation on the subject...even some valuation attempts. Sounds like we may see an official clarification on the ADR's soon. Stock could go either way as this news hits...maybe the single largest stock moving news short of the actual bidding process, and interest rate news, IMO. If there's any basis for the 160+ valuations we've seen, at some point soon things oughta really start to pick up. regards sf