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Microcap & Penny Stocks : PLFM - Undervalued with great potential -- Ignore unavailable to you. Want to Upgrade?

To: Curtis Brown who wrote (3854)	7/28/1998 7:24:00 PM
From: Mags	Read Replies (1) \| Respond to of 9096

One injunction down, two more to go: RIO DE JANEIRO, July 28 (Reuters) - The Brazilian government succeeded in getting an injunction dismissed that was blocking Wednesday's scheduled privatization of telephone company Telebras , a court official said. A spokeswoman for a federal court in the city of Porto Alegre in southern Rio Grande do Sul state, said the government's appeal of an injunction issued earlier Tuesday in neighboring Parana state was successful. Two other injunctions against the Telebras privatization have yet to be quashed by the government. One, issued in Bahia state, also blocks the sale of all 12 Telebras subsidiaries. The other, from a judge in Rio de Janeiro, suspends the sale of long-distance carrier Embratelonly. The Brazilian government plans to sell Telebras' 12 subsidiaries at a privatization auction on Wednesday morning. Investors including several of the world's leading telecommunications players are expected to bid up to $14 billion for control of the companies.