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

To: coyote who wrote (7033)	8/21/1998 11:22:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Brazil Seeks Telebras Liquidation Plan By Aug. 1999 Dow Jones Newswires NEW YORK -- Telecomunicacoes Brasileiras SA (TBR), known as Telebras, said Friday that the Brazilian Ministry of Communications has ordered its liquidation as a result of its recent breakup and privatization. In a press release, Telebras said that the ministry ordered the company to submit a detailed plan of liquidation for approval by the company's board of directors no later than August 1999, and for subsequent submission to a special meeting of Telebras shareholders. Telebras was spun off into 12 new holding companies in May, and the government's controlling stakes were sold July 29 for a combined $19 billion. The press release reiterated that trading in the 12 new companies is expected to begin both in Brazil and Sao Paulo during the month of September, pending approvals by the U.S. Securities and Exchange Commission and by the CVM, its Brazilian counterpart.

To: coyote who wrote (7033)	8/22/1998 8:08:00 AM
From: Fred Levine	Read Replies (2) \| Respond to of 22640

Coyote-- As remarked on many threads, stock prices abhor uncertainty. The TBR's have the uncertainty of the election, the uncertainty of SEA and Russia, AND the uncertainty of the breakup into smaller telecompanies. In addition, there will be new profit-driven management in a sociology of government largess in the tlecompanies. All of these have, IMO, driven the price down to ridiculous levels. The positive is that the election result is coming clearer with Lula losing share, and we shall wait until the murk clears in the other issues. I am convinced that TBR is a screaming buy, but my gut holds me back. f