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 (8353)	9/21/1998 2:28:00 PM
From: TokyoMex	Read Replies (1) \| Respond to of 22640

It's gonna go through ,,

To: Steve Fancy who wrote (8353)	9/21/1998 3:17:00 PM
From: Jerry A. Laska	Respond to of 22640

Telebras Announces Publication of Information Statement on Distribution of Shares and ADSs of New Holding Companies BRASILIA, Brazil--(BUSINESS WIRE)--Sept. 21, 1998--Telecomunicacoes Brasileiras S/A - TELEBRAS (NYSE:TBR - news; Bovespa:TEL, BVRJ:TLBR) announced today the publication of an Information Statement concerning the distribution of shares and ADSs of the new holding companies established in the split-up of Telebras. The twelve new holding companies were established May 22, 1998, and the controlling interest of the Brazilian government in each of them was sold on July 29, 1998. The Information Statement contains information concerning the break-up of Telebras and the distribution of shares and ADSs of the new holding companies. In addition, each new holding company has filed a registration statement on Form 20-F with the Securities and Exchange Commission (SEC) for the registration of its preferred shares. This registration is necessary in order for the new holding companies' ADSs to trade on the New York Stock Exchange (NYSE). The registration statements have not become effective and remain subject to further revision. Telebras has also filed a report on Form 6-K with the SEC containing interim financial information of Telebras and each of the new holding companies through June 30, 1998. All the information described above is available on the Internet at www.georgeson.com/telebras, and the registration statements are available through the SEC's EDGAR system. Copies will also be mailed to any holder of Telebras shares or ADSs who so requests by calling 1-800-223-2064. Common shares and preferred shares of the new holding companies commenced trading today on the Brazilian securities exchanges. ADSs representing preferred shares of each new holding company will trade separately on the New York Stock Exchange, but the date on which trading commences will depend on the conclusion of the registration process with the U.S. Securities and Exchange Commission. Telebras will announce as soon as possible the date of commencement of separate trading of the ADSs of each new holding company and the record date for the distribution of new holding company ADSs to holders of Telebras ADSs. In the meantime, the Telebras ADS will continue to trade on the NYSE, representing preferred shares of Telebras and each of the new holding companies. biz.yahoo.com

To: Steve Fancy who wrote (8353)	9/21/1998 3:19:00 PM
From: Jerry A. Laska	Read Replies (2) \| Respond to of 22640

Brazil Telesp Part most-traded phone co SAO PAULO, Sept 21 (Reuters) - On Monday, the first day the 12 regional phone companies carved out of Brazil's Telebras (NYSE:TBR - news) were listed and began trading in Sao Paulo, the newly-formed Telesp Participacoes was the most actively traded share. Telesp receipts , which bundle all 12 stocks in one contract, were more heavily traded even than Telesp Participacoes, however. Minority shareholders in Telebras stocks had the option of trading the stocks in for receipts or taking possession of the 12 shares. The 12 Telebras units were sold for about $19 billion in Latin America's biggest privatization auction ever on July 29. As of 1345 local/1645 GMT, 106 of a total 140 operations involving the 12 former Telebras units had been made in Telesp Participacoes preferred shares. The shares were trading at 29 reais. Telebras receipts had seen 358 operations and were being traded at 83.50 reais. Trading is concentrated in Telesp Participacoes, the largest of the units, and the receipts due to a lack of financial information about the newly listed companies, analysts said. ''The information released about the companies was not enough for an analysis,'' said Fabio Nazari, an analyst at Banco FonteCindam. Telebras ADRs (NYSE:TBR - news) are expected to be replaced by the 12 companies in New York trading in October, though no official date has been set. Brazil's Communications Minister Luiz Carlos Mendonca de Barros said they'll begin trading after Brazil's general elections on October 4. biz.yahoo.com