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

To: Steve Fancy who wrote (1696)	4/15/1998 6:25:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Several briefs on the Brazil financial wire...you might have to register but it's free. I posted a couple of 'em here. ======================== Salomon Smith Barney downgrades Brazil's investments - US bank Salomon Smith Barney downgraded its recommendation for Brazil's ivestments to "neutral" from "overweight". Up until March, the bank advised its clients to allocate 8% of their global portfolios to Brazilian stock exchanges. In April, the stake suggested was reduced to 5%. According to an analyst at Salomon, the downgrade was a result of moves in the Brazilian stock market. Brazil' shares were cheaper earlier this year, but they are now more expensive compared to papers traded in other Latin American countries. (O Estado de S. Paulo/ O Globo) ===================== Camdessus praises Brazil in Asian crisis episode - The International Monetary Fund (IMF) managing director, Michel Camdessus, praised Brazil yesterday for its "quick and determined" reaction against the Asian crisis. He adverted, however, that Latin American countries in electoral year, such as Brazil, should remain "vigilant". (O Estado de S. Paulo/ Jornal da Tarde/ Folha de S.Paulo/ Jornal do Brasil) ========================= Telebr s' receipts to become shares - A total of 13.7 billion receipts issued by Telebr s in 1990 will be transformed into preferred shares of the federal telecommunications holding. The decision made at an extraordinary general assembly yesterday will increase the company's total capital to R$334bn in shares. The holding will pay indemnity of R$132m referring to dividends not paid for the last eight years. (O Estado de S. Paulo/ Folha de S.Paulo/ Jornal do Brasil/ O Globo) ========================= agestado.com