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

To: Mayer Tchelebon who wrote (1772)	4/19/1998 8:34:00 PM
From: Steve Fancy	Respond to of 22640

Don't know Mayer. Sounds like safe logic. I'm still a little confused as to exactly what you get when you buy TBR. There was a day I believed that Telesp etc were somehow factored into TBR. Probably one of those really stupid questions, but I guess when you buy TBR, you're not getting the subsidiaries that trade separately over there, and if thats the case, not clear why ADR holders would receive shares of these companies on the breakup. I hadn't been as concerned about understanding all this until recently in that I was trading on momentum. I hope this is one of those questions everyone's been afraid to ask, and I'm not missing something extremely simple. sf