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

To: djane who wrote (8156)	9/16/1998 12:40:00 PM
From: steve kammerer	Read Replies (3) \| Respond to of 22640

Hi. Have been traveling and stopped in a public library to check out what's happening with TBR. Yikes! For what it's worth,concerning TBR valuation: TBR privatization sale was based on reals NOT US dollars. You get to $295 by converting what real was at that time of conversion. The payments to the Brazilian government for TBR purchase will be in reals and the payments will be spread out in cheaper reals/$. For current valuation estimates work with reals and convert at expected exchange rate after crisis is over. My $.02 stevek