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

To: Steve Fancy who wrote (9439)	11/5/1998 12:01:00 AM
From: lebo	Respond to of 22640

Lets say will be

To: Steve Fancy who wrote (9439)	11/5/1998 1:46:00 AM
From: Steve Fancy	Read Replies (1) \| Respond to of 22640

Tele Sudeste reschedules shareholder meeting Reuters, Wednesday, November 04, 1998 at 20:15 NEW YORK, Nov 4 (Reuters) - Tele Sudeste Celular Participacoes SA, one of the successor companies to Brazil's Telebras SA (NYSE:TBR), said Wednesday it rescheduled its extraordinary shareholder meeting to November 10. The meeting was originally scheduled for October 30. The agenda for the meeting includes amending the company's charter and management structure to fit the needs of the new company, independent of Telebras. Tele Sudeste, which provides cellular telephone service, is waiting to be listed on the New York Stock Exchange under the symbol "TSD." Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (9439)	11/5/1998 1:47:00 AM
From: Steve Fancy	Respond to of 22640

Brazil gov't wins key vote over pension reform Reuters, Thursday, November 05, 1998 at 00:03 The vote was the last in the pension reform bill's tortuous passage through Congress where it has been bogged down for nearly four years amid widespread opposition, despite its fiscal importance. The pension reform bill aims to save nearly $15 billion over the next three years and is a important part of Brazil's austerity plan announced last week to prevent Latin America's biggest economy from collapsing amid global financial turmoil. The bill's final approval clears the way for the government to begin approving tax increases and other measures included in the austerity plan. Earlier in a late-night session of Congress Wednesday the government defeated another important amendment that would have stopped it from limiting civil service pensions to just over $1,000 a month. In a bid to save time, the government and opposition parties jointly approved a third opposition-sponsored amendment on special pensions for workers in high-risk professions. That issue is not central to the reform's cost-cutting bite and will be settled with a new bill to be sent to Congress. The pension reform bill must now pass a final non-voting stage in Congress before finally becoming law. william.schomberg@reuters.com)) Copyright 1998, Reuters News Service

To: Steve Fancy who wrote (9439)	11/5/1998 1:51:00 AM
From: Steve Fancy	Read Replies (7) \| Respond to of 22640

MCI says Brazil's Embratel to list on NYSE soon Reuters, Wednesday, November 04, 1998 at 23:15 SAO PAULO, Nov 4 (Reuters) - Brazil's Embratel (SAO:EBTP4), a long-distance phone carrier will be listed on the New York Stock Exchange (NYSE) together with 11 other former Telebras companies already cleared to trade on the NYSE, Embratel's parent said Wednesday. The parent, U.S-based MCI WorldCom Inc.(NASDAQ:WCOM), said Embratel would debut on the NYSE before its application with the U.S. Securities and Exchange Commission (SEC) was approved. MCI Communications Corp (NASDAQ:MCIC) bought Embratel in the Telebras privatization auction on July 29 before merging with WorldCom Inc. "Embratel will be allowed to trade on the NYSE before its filing with the SEC takes effect so that the 12 units may start trading at the same time," a MCI WorldCom spokesman told Reuters. The SEC on Tuesday approved 11 of the 12 telephone units created from Telebras. Embratel was the only company left out. MCI said Embratel was the surviving entity of former Telebras for U.S. accounting purposes and because of this accounting treatment, the company's filing process was more complex than that of the other Telebras companies. Embratel's filing was expected to be completed in the coming months, but the firm was due debut on the NYSE before that, the MCI spokesman said. The MCI comments also clarifies the company's position on whether Embratel needed additional filing with the SEC. An Embratel spokeswoman in Brazil said earlier on Wednesday that the company did not need SEC approval to trade as it would inherit the registration number of Telebras American Depositary Receipts (NYSE:TBR), which still trade on the NYSE. The MCI spokesman said those comments were incorrect. Shares of the 12 former Telebras units, including Embratel, have been trading in Brazil since Sept. 21. The 11 other companies spun off Telebras include eight cellular companies: Telesp Celular (SAO:TSPP4), Tele Sudeste Celular (SAO:TSEP4), Tele Sul Celular (SAO:TCSL4), Telemig Celular (SAO:TMCP4), Tele Leste Celular (SAO:TLCP4), Tele Centro Oeste Celular (SAO:TCOC4), Tele Nordeste Celular (SAO:TNEP4) and Tele Norte Celular (SAO:TNCP4). The spin-offs also include three fixed-line companies, Telesp Participacoes (SAO:TSPP4), Tele Centro Sul Participacoes (SAO:TCSP4), and Tele Norte Leste Participacoes (SAO:TNLP4). noriko.yamaguchi@reuters.com)) Copyright 1998, Reuters News Service