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

To: lebo who wrote (9350)	11/3/1998 2:20:00 PM
From: steve kammerer	Respond to of 22640

Does this mean that TBR immediately will cease trading while we receive the underlying stock? Will be good to see the sum of the parts. They may show a greater price than the whole.(I hope) stevek

To: lebo who wrote (9350)	11/3/1998 2:23:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Gov't struggles to approve Welfare in Congress São Paulo, 3 - The government is preparing its allies to vote the Welfare reform in second round in Congress tomorrow. By Wednesday, Welfare minister, Waldeck Ornelas, will gather PFL and PMDB deputies in an attempt to explain the fiscal adjustment measures and reinforce the urgency of the reform conclusion. In addition to completing the vote on the proposal, which has proceeded in Congress for over three years, the government also aims at conceding the fiscal austerity program some credibility and show that investors are supportive of Congress. The government hopes that a virtual victory help halt the continuous outflow of dollars and facilitate Brazil's negotiations with the International Monetary Fund (IMF). Ornelas announced yesterday that the rural sector contribution to the Welfare system is also to be changed so as to avoid fiscal evasion and frauds. (O Estado de S. Paulo/ Jornal da Tarde. Edited by Sergio Caldas)

To: lebo who wrote (9350)	11/3/1998 2:25:00 PM
From: Steve Fancy	Respond to of 22640

Local equities up on optimism over Welfare reform voting Local bourses started the first week of November keeping a close eye on the developments of the second-round voting of the Welfare reform in Congress scheduled for tomorrow. Investors expect the voting to be the first vital test of Brazil's Fiscal Stabilization Program, known as (PEF). In the mean time, government officials keep on negotiating the rescue package with the International Monetary Fund (IMF) in Washington. In face of this scenario, participants expect the market should trade positively during the day as they carry on believing the government is doing the right thing to approve its program in Congress. (By Paulo Monteiro)