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

To: Steve Fancy who wrote (1787)	4/20/1998 2:50:00 PM
From: DMaA	Respond to of 22640

It was a subject on his mind at the very end: Brazil Pres Praises Motta For Achievements In Telecom Sector BRASILIA (Dow Jones)--In a short spoken statement to news reporters at the presidential palace Monday, President Fernando Henrique Cardoso praised Communications Minister Sergio Motta for his achievements in transforming the Brazilian telecommunications sector. Motta, the pointman for the upcoming privatization of telecommunications group Telebras (TBR), died late Sunday follwing a 12-day stay in a Sao Paulo hospital, where he was treated for a lung infection. Cardoso lauded Motta for his 'affirmative style, without which it would have been impossible to achieve what has been achieved in Brazil's telecommunications sector.' Cardoso also said he last heard from Motta through a hand-written fax sent from the hospital shortly before the minister was admitted to an intensive care unit April 10. In the fax, Motta thanked Cardoso for supporting him in his privatization project and encouraged the president to continue firmly with his current policies. 'All that I have proposed so far is revolutionizing the telecommunications sector,' Motta wrote in the fax. The government, which hopes to have the telecommunications system in private hands by July, expects to reap up to $30 billion from the sale of its 21% stake in Telebras. Cardoso is scheduled to attend Motta's funeral in Sao Paulo at Monday. He will then return to Brasilia before leaving for a five-day state visit to Spain. According to the presidential press office, three days of mourning have been officially declared by the government. -By William Vanvolsem and Stephen Wisnefski;(5511)813-1988

To: Steve Fancy who wrote (1787)	4/20/1998 2:53:00 PM
From: DMaA	Respond to of 22640

Echoing what Jeremy had to say on the subject: Death Of Brazil's Motta Seen As Political Blow To Cardoso By Stephen Wisnefski and Margarita Palatnik SAO PAULO (Dow Jones)--The death of Communications Minister Sergio Motta, the architect of the planned privatization of the country's telecommunications monopoly, has robbed the Brazilian president of a key ally. Analysts say that, while Motta was instrumental in organizing the mammoth task of selling off federal telecommunications group Telecomunicacoes Brasileiras SA (TBR), the biggest loss for the government relates to the outspoken minister's role as strong-arm defender of President Fernando Henrique Cardoso's policies. 'It's a huge loss politically,' said Paul Steele, head of equity research sales for Sao Paulo-based Banco Fator. 'He was the mouthpiece for anything that President Cardoso didn't want to say, or would never be able to say.' Motta died late Sunday from complications of legionnaire's disease, after a 12-day stay at a Sao Paulo hospital. He was 57. In a brief statement Monday, Cardoso praised the minister for his 'affirmative style, without which it would have been impossible to achieve what has been achieved in Brazil's telecommunications sector.' Motta's death, however, isn't expected to derail the Telebras privatization process, which the government hopes to complete by July. 'About a month ago, Motta said that as far as privatization was concerned, his job was over,' said William Laurent, a telecommunications sector analyst at Flemings, in London. 'He's done the bit he had to do,' he added, noting that the process has been left in able hands.

To: Steve Fancy who wrote (1787)	4/20/1998 5:08:00 PM
From: Steve Fancy	Read Replies (4) \| Respond to of 22640

Brazil shares end weaker on options expiry day Reuters, Monday, April 20, 1998 at 16:49 SAO PAULO, April 20 (Reuters) - Brazilian shares ended weaker Monday following a tug-of-war session dominated by deals related to the expiry in share options, brokers said. <snip> ''There were not many investors rolling over their positions in Telebras options as many players were not sure what options would be dealt with in the coming months,'' said one trader. <snip> biz.yahoo.com