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

To: MGV who wrote (7395)	9/2/1998 8:03:00 PM
From: Steve Fancy	Respond to of 22640

BellSouth has 535,000 Brazilian cellular customers Reuters, Wednesday, September 02, 1998 at 18:52 NEW YORK, Sept 2 (Reuters) - BellSouth Corp (NYSE:BLS) said its Brazilian cellular phone business gained 535,000 customers after only four months and has 550,000 additional people on a waiting list in Sao Paulo. BellSouth and its partners in May launched BCP Telecomunicacoes, which now operates in Sao Paulo, the world's third largest city, as well as a six-state region of northeastern Brazil. "The explosive demand we are witnessing confirms and exceeds our expectations for the Brazilian market. And, as our waiting list demonstrates, that demand shows no signs of slowing," said Charles Miller, President of BellSouth International. BCP serves a total population of over 44 million. BellSouth's Brazilian partners in BCP include Grupo Safra; OESP, a publishing and media group; RBS, a media group; Splice, a telecommunications equipment manufacturer and BSB, an industrial and financial company. BellSouth, the Atlanta-based regional Bell operating company, has operations in nine countries throughout Latin America, including Argentina, Brazil, Chile, Peru and Venezuela. BellSouth and its partners have more than 2.4 million total customers throughout Latin America. Copyright 1998, Reuters News Service

To: MGV who wrote (7395)	9/2/1998 8:04:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's cenbank cuts TBC prime rate to 19 pct Reuters, Wednesday, September 02, 1998 at 19:32 BRASILIA, Sept 2 (Reuters) - Brazil's Central Bank said on Wednesday that it lowered its prime lending rate to an annualized 19 percent from 19.75 percent, spurning pressure to attract foreign capital amid a global rush out of emerging markets. The move by the bank's Monetary Policy Committee (Copom), meeting for its last interest-setting round before general elections on October 4, maintained Brazil's policy of gradually cutting interest rates. The Copom raised Brazil's basic assistance rate, the Tban, to an annual 29.75 percent from 25.75 percent. Copyright 1998, Reuters News Service

To: MGV who wrote (7395)	9/2/1998 8:06:00 PM
From: Steve Fancy	Respond to of 22640

Brazil's Bovespa (INDEX:$BVSP.X) closes off tracking Wall St Reuters, Wednesday, September 02, 1998 at 17:08 SAO PAULO, Sept 2 (Reuters) - Brazil's Bovespa closed down on Wednesday, slumping 1.63 percent following a dip on Wall Street on persistent concern over the fate of emerging markets amid capital flight and devaluation pressures. "The international problems go on and the market is still nervous," said a trader at a local brokerage. Sao Paulo's key Bovespa index of the 57 most-traded shares fell 45.06 points to close at 6,805, resuming its downward spiral after Tuesday's stellar 6.87-percent gain. "Nobody knows what's going to happen in the world economy and politics; anything can shake the market," a trader said. The Dow Jones Industrial Average turned negative in afternoon trading, slipping 0.58 percent to 7,782.37 points. Telebras (SAO:TELB4) preferred dragged the Brazilian market down, tumbling 4.04 percent to 85.05 percent. Traders said investors began selling the stock to take advantage of other Blue-chip stocks that fell further in August and because the Bovespa cut Telebras' weighting on its index. "Telebras is falling after the Sao Paulo stock exchange changed the composition in the Bovespa index, putting a smaller weighting on Telebras," a trader at Corretora Doria & Atherino said. Telebras went from weighing 38.5 percent to 37.7 percent on the index. Other shares that saw their weighting cut like Eletrobras (SAO:ELET6) and Telesp (SAO:TLSP4) shrugged off the news. Eletrobras preferred inched up 1.95 percent to 21.40 reais and Telesp preferred closed unchanged at 163 reais. Petrobras (SAO:PETR4) saw its weighting slightly increased to 8.5 percent from 7.8 percent. Investors also snapped up preferred shares of the state-owned oil company because they were extremely cheap after August's 53 percent tumble, traders said. "Investors wanting to maintain their exposure to Brazil are switching to those stocks like Petrobras and Eletrobras the fell most last month," said Jorge Simino, a fund manager at Unibanco. Among other blue-chip stocks, Cia Vale do Rio Doce (SAO:VALE5) jumped 3.68 percent to 16.90 reais. shasta.darlington@reuters.com)) Copyright 1998, Reuters News Service

To: MGV who wrote (7395)	9/2/1998 8:08:00 PM
From: Steve Fancy	Respond to of 22640

Brazil Telebras (SAO:TELB4) falls on weighting change Reuters, Wednesday, September 02, 1998 at 18:59 SAO PAULO, Sept 2 (Reuters) - Brazil's Telebras (SAO:TELB4) tumbled on Wednesday after the benchmark Bovespa exchange reduced the preferred shares' weighting on its index of the 57-most traded stocks, dealers said. "Telebras is falling after the Sao Paulo stock exchange changed the composition in the Bovespa index, putting a smaller weighting on Telebras," said a trader at Corretora Doria & Atherino. Telebras closed off 4.04 percent at 85.50 reais. Sao Paulo's key Bovespa exchange cut Telebras preferred weighting slightly to 37.7 percent from 38.5 percent on Tuesday. At the same time, the exchange reduced slightly the weighting of Eletrobras (SAO:ELET6) preferred and Telesp (SAO:TLSP4) preferred and raised the weighting of Petrobras (SAO:PETR4) preferred. "Traders started buying and selling based on this today, because yesterday was just buying back across the board," the trader said. Telesp and Eletrobras appeared to shrug off the news. Telesp preferred closed unchanged at 163 reais and Eletrobras preferred shares jumped 1.95 percent to close at 21.40 reais. Petrobras, which was seen benefiting from the change as investors shifted their portfolios to reflect the state-owned oil company's higher weighting on the Bovespa, surged more than 11 percent before settling back down. Preferred shares closed up 6.06 percent at 140.00 reais. Traders said the rise also reflected investors' shift from Telebras to Petrobras as they took advantage of the cheap prices after Petrobras' 53 percent plunge last month. shasta.darlington@reuters.com)) Copyright 1998, Reuters News Service

To: MGV who wrote (7395)	9/2/1998 9:57:00 PM
From: DMaA	Respond to of 22640

Ohhhh, Woize goiy.

To: MGV who wrote (7395)	9/3/1998 10:37:00 AM
From: P.T.Burnem	Read Replies (2) \| Respond to of 22640

What is the likelihood of Cardoso's losing his re-election bid? You must be kidding, there is little likelihood he will be reelected. How could he with an imminent devaluation followed by a debt moratorium, hyperinflation and general economic collapse? Simple. Cardoso may be able to keep the peg flying through the elections. Anyway, I apologize for posting a serious question to what appears to be a Telebra support group. Good luck, PTB