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

To: Steve Fancy who wrote (1477)	4/7/1998 10:55:00 AM
From: Steve Fancy	Respond to of 22640

Brazil shares seen buoyed at open by dollar flows SAO PAULO, April 7 (Reuters) - Brazilian stocks were seen ticking up at the open Tuesday, boosted by rising overseas bourses and a hefty influx of dollars to Brazil, traders said. <snip> "The market is still nervous about Telebras," he added. biz.yahoo.com

To: Steve Fancy who wrote (1477)	4/7/1998 10:57:00 AM
From: Steve Fancy	Respond to of 22640

Winning Brazil cellphone bid to be raised 20 pct BRASILIA, April 7 (Reuters) - The winning 773.9 million real ($685 million) bid in a Brazilian cellular phone license tender Tuesday must be automatically raised by up to 20 percent to account for inflation, officials said. biz.yahoo.com

To: Steve Fancy who wrote (1477)	4/7/1998 11:00:00 AM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil nom budget gap 4.27 pct/GDP 12 mos to Jan Reuters, Tuesday, April 07, 1998 at 09:56 BRASILIA, April 7 (Reuters) - Brazil posted a nominal budget deficit of 4.27 percent of gross domestic product in the 12 months to January, up from 4.22 percent in the 12 months to December, the Central Bank said Tuesday. The bank said the figures were calculated using new criteria and included privatization receipts. Excluding privatization receipts, the 12-month deficit in January was 6.18 percent of gross domestic product, up from 6.12 percent of GDP in the 12 months to December. Including privatization receipts, the primary account, which does not include debt servicing, posted a surplus of 1.08 percent of GDP in the 12 months to January, up from a 0.96 percent of GDP surplus in the 12 months to December. However, excluding privatization receipts, the primary account showed a deficit of 0.83 percent of GDP, lower than a 0.94 percent of GDP shortfall in the 12 months to December. In the month of January, Brazil posted a nominal deficit of $5.4 billion reais, down sharply from the $12.6 billion reais shortfall in the month of December, the Central Bank said. Central Bank officials were not immediately available to comment on the changes in the way the public sector budget figures were being calculated. They were scheduled to hold a news conference later in the day. Copyright 1998, Reuters News Service ============================= Brazil net public debt at 35.3 pct/GDP in Jan Reuters, Tuesday, April 07, 1998 at 10:08 BRASILIA, April 7 (Reuters) - Brazil's net public sector debt in January rose to 316.7 billion reais, equivalent to 35.3 percent of gross domestic product, the Central Bank said Tuesday. The debt-to-GDP ratio worsened from December, when it stood at 34.5 percent of GDP. Of the total, Brazil's internal debt was 278.4 billion reais, while external debt was 38.3 billion reais, the bank said. While the overall debt-to-GDP ratio of 35.3 percent is small when compared to Belgium, Italy or Canada, whose ratios range from 80 percent to over 100 percent of GDP, economists say it is worrisome for a speculative-grade country like Brazil. Economists say it is also worrying that the average maturity on local debt, the bulk of Brazil's total debt stockpile, is just six months. Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (1477)	4/7/1998 2:09:00 PM
From: Eugene Goodman	Read Replies (1) \| Respond to of 22640

Steve Do you have any idea of the amount of competition that the Brazilian Government will allow after the sell off? I read a couple of weeks ago that Bechtel [the best and I believe the biggest construction engineering company] was getting engaged to a Brazilian company to do telecom. I imagine that Telebras still has a lot of labor bloat that will take years to shed as it has with ATT. I guess more to the point is Will the baby Bras [A, B, C ..sic] have competition? Gene