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

To: DMaA who wrote (6642)	8/13/1998 4:40:00 PM
From: md1derful	Respond to of 22640

DA: Smart boy, hope it works out

To: DMaA who wrote (6642)	8/13/1998 6:53:00 PM
From: chirodoc	Respond to of 22640

Thursday August 13, 12:55 pm Eastern Time Brazil Telesp elects Xavier as board head SAO PAULO, Aug 13 (Reuters) - Shareholders of Brazilian fixed-line telephone firm Telesp S.A. on Thursday elected Fernando Xavier, the former president of recently-privatized Telebras (TELB4.SA), as Telesp's board president. Xavier was elected in Telesp's extraordinary shareholders meeting held today, a spokesman at Spain's Telefonica (TEF.MC) said. Telefonica bought Telesp Participacoes, the holding company for Telesp, at Telebras' privatization auction on July 29. Telesp serves Sao Paulo state. Meanwhile, Xavier was also elected as the president of the board of directors at Telerj Celular (TRJC6.SA), the cellular phone firm serving Rio de Janeiro state, at its shareholder meeting on Thursday. Tele Sudeste Celular Participacoes, the holding firm grouping the cellular phone operations in Rio de Janeiro state, was also bought by a consortium led by Telefonica.