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 (9814)	11/18/1998 3:15:00 PM
From: David Petty	Read Replies (2) \| Respond to of 22640

Steve, Thanks. Some of these babies sure are jumpy today. TCS (46.8125-50), TMB (20.625-23.5), TSP (29.75-31.75) David

To: Steve Fancy who wrote (9814)	11/18/1998 5:12:00 PM
From: jayray	Read Replies (1) \| Respond to of 22640

Steve, According to BK you can still convert the 12 baby bras plus TBR back into TBH. On Monday the Bank of New York (BK) notified Charles Schwab brokerage (and I assume others)that it was possible to purchase TBR through Tuesday and have those shares included in the great 12 to 1 (sort of) conversion effective Wed., or Thurs., or thereabouts. This per the Global Investments group at Schwab late Monday afternoon. On Friday afternoon I spoke to the ADR upperlings at BK and was given some real "I can't believe it" information. According to BK, we can convert our TBR ADRs into TBH at a later date, after the new 12 have started trading, and pay only 5 CENTS for each TBH share issued; not 5 cents per new ADR, just 5 cents to convert all 12 plus the TBR stub into TBH. Equally amazing is the offer to later convert our TBH into the underlying 12 new ADRs for just 5 CENTS per TBH share converted. This is in marked contrast to the $.30 cost per share to get into RTB (5 cents to JP Morgan, 25 cents to BONY to cancel our TBR) and the $1.20 to convert RTB to the underlying 12 new ADRs (5 cents per new ADR issued). It's apparent from the newly lowered pricing that BONY and Merrill Lynch didn't want RTB to have any chance in the market. Now let's see how long the prices last.