Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Steve Fancy who wrote (6298)	8/4/1998 4:30:00 PM
From: PEP	Respond to of 22640

I don't know Steve, never thought we'd test these levels again. Sold my August calls yesterday. Made a little selling Aug 130's and 115's as a hedge. Can almost say I saw it coming, but forgot to take my rose colored glasses off. Down 26, up 20, now down 18 again. Just don't see it getting better. Can't even get through to the mutual funds at Merrill, that's how tied up they are.

To: Steve Fancy who wrote (6298)	8/4/1998 4:37:00 PM
From: Steve Fancy	Read Replies (2) \| Respond to of 22640

TBH suddenly selling at a discount to TBR. Seemed to be rush of selling just before 4:00 on TBH...almost as if some kind of news had hit specific to TBH. Current bids... TBR 109 3/8 x 109 15/16...last 109 5/8 at 16:21 TBH 107 1/2 x 109 1/16...last 109.5 at 16:25 ...just a fluke or Merrill scam of the year? sf

To: Steve Fancy who wrote (6298)	8/4/1998 4:44:00 PM
From: Steve Fancy	Read Replies (6) \| Respond to of 22640

Telefonica (MADRID:TEF) says to invest $11 bln in Reuters, Tuesday, August 04, 1998 at 16:12 Telefonica said shareholders could expect to see the benefits of its Brazil purchases by 2001. The Spanish carrier said the number of telephone lines offered by Telesp would nearly double to 11 million by 2002. The coveted fixed-line company serves Sao Paulo, Brazil's richest state, Telesp's net income will quadruple to $2.7 billion in the same period, Telefonica CEO Juan Villalonga told analysts. The Spanish company announced its investment plans days after the initial euphoria over last Wednesday's auction faded. Analysts have begun to voice concern that Telefonica had overextended itself. Standard & Poor's said it could lower the Spanish company's rating, and its share price has receded. Villalonga sought to reassure analysts during the conference call. "We will have a critical mass to enhance revenues to improve returns for our shareholders," he said. Tele Sudeste Celular, the cellular operator that serves the Rio de Janeiro and Espirito Santo markets, will boost installed lines to 2.22 million from the current 980,000, Villalonga said. Tele Sudeste's net income is expected climb to $725 million by 2002, more than triple its current earnings. Telefonica is also negotiating with Portugal Telecom (LIS:PTCO) to buy a stake in Telesp Celular Participacoes, another Telebras unit that provides cellular service in Sao Paulo state. Telefonica could buy 34.5 percent of Portugal Telecom's holding, Villalonga said. He said the Spanish carrier was also in talks with MCI Communications Corp. (NASDAQ:MCIC) to buy a stake in Embratel, Telebras' long-distance carrier, though he declined to comment on the percentage of the consortium that was under discussion. Copyright 1998, Reuters News Service