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

To: Steve Fancy who wrote (8871)	10/6/1998 5:22:00 PM
From: Steve Fancy	Read Replies (2) \| Respond to of 22640

Listing of Brazil 12 Telebras units in NY Reuters, Tuesday, October 06, 1998 at 16:51 The U.S. Securities and Exchange Commission has not yet approved the one-for-12 share swap in the United States. The SEC declined comment on its evaluation of the listing, which it began two months ago. Brazil's Communications Ministry said at the beginning of September that the shares should begin trading in New York on Oct. 15. They began trading in Brazil on Sept. 21, but most investors traded their Telebras shares in for receipts (SAO:RCTB40) which bunch all of the 12 companies in a basket of shares. Copyright 1998, Reuters News Service