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To: pom who wrote (3861)	7/29/1998 8:59:00 AM
From: Mags	Respond to of 9096

Great news, looks like auction is on, for now.... RIO DE JANEIRO, July 29 (Reuters) - No court injunctions are currently blocking the start of the Telebras <TELB4.S> <TBR.N> privatization, a spokesman for the Rio de Janeiro stock exchange said. "The last court injunction delaying the Telebras auction was been overruled by a federal court. There is currently nothing blocking this auction," Carlos Alberto Acevedo told told journalists. For related news, double click on one of the following codes: [M] [T] [E] [D] [U] [NAT] [SUR] [LATAM] [BR] [LDC] [EMRG] [TEL] [HOT] [US] [STX] [ISU] [LEN] [RTRS] [TBR.N\c] [TELB4.SA\c] [TELB3.SA\c] [TELB40.SA\c] For related price quotes, double click on one of the following codes: <TBR.N> <TELB4.SA> <TELB3.SA> <TELB40.SA> Wednesday, 29 July 1998 08:43:32 RTRS [nN29149826] MORE

To: pom who wrote (3861)	7/29/1998 9:08:00 AM
From: Mags	Read Replies (1) \| Respond to of 9096

The auction has started... RIO DE JANEIRO, July 29 (Reuters) - The Rio de Janeiro stock exchange began on schedule the privatization of Brazilian telephone company Telebras <TELB4.SA> <TELB3.SA>, a bolsa official said on Wednesday. The first of 12 Telebras subsidiaries on the block was Telesp <TLSP3.SA> <TLSP4.SA>, which provides fixed-line services in Brazil's developed Sao Paulo state. For related news, double click on one of the following codes: [M] [T] [E] [D] [U] [NAT] [SUR] [BR] [LDC] [EMRG] [TEL] [HOT] [US] [STX] [ISU] [LEN] [RTRS] [TBR.N\c] [TELB4.SA\c] [TLSP3.SA\c] [TLSP4.SA\c] For related price quotes, double click on one of the following codes: <TBR.N> <TELB4.SA> <TLSP3.SA> <TLSP4.SA> Wednesday, 29 July 1998 09:00:26 RTRS [nN2925768] MORE RIO DE JANEIRO (DOW JONES)--THE PRIVATIZATION OF TELECOMUNICACOES BRASILEIRAS SA (TBR), OR TELEBRAS, BEGAN AT THE RIO DE JANEIRO STOCK EXCHANGE WEDNESDAY ON SCHEDULE. THE PRIVATIZATION CONSISTS OF A THREE-PART, SEALED-ENVELOPE AUCTION IN WHICH THE 12 UNITS WILL BE SPLIT INTO FOUR BLOCKS. THE TOTAL MINIMUM BID PRICE IS 13.47 MILLION REALS (BRL)($1=BRL1.17). IN THE FIRST PART, INVESTORS WILL PRESENT BIDS FOR TELESP FIXED-LINE SERVICE, THE MOST EXPENSIVE OF THE 12 COMPANIES, WITH A MINIMUM BID OF BRL3.52 BILLION. THEY WILL ALSO BID FOR THE OTHER TWO FIXED-LINE COMPANIES AND EMBRATEL. THE SECOND PART IS RESERVED FOR CELLULAR COMPANIES IN HIGHLY POPULATED AREAS AND, FINALLY, THE LEAST-EXPENSIVE CELLULAR CARRIERS. (END) DOW JONES NEWSWIRES 07-29-98 09:08 EDT For related news, double click on one of the following codes: [TLR] [T] [E] [D] [M] [C] [MUNI] [DBT] [MTG] [FRX] Wednesday, 29 July 1998 09:14:17 TLR [n_N32418T0]