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

To: Alfredo Nova who wrote (11769)	1/15/1999 9:22:00 AM
From: Telemarker	Read Replies (1) \| Respond to of 22640

Real off about 10%+ (near 147), after hitting 155. IBovespa up 15%. Sort of feels like were now in the world of Asia-style valuation calculations? My feel is that today we will start to see exactly how much of a devaluation was factored into UBB and TBH price. Also will get a peek as to how much further fall in the Real the market expects. These two may be the same question. One of the talking heads on CNBC was plugging TBH. Mentioned the $290/share which the auction fetched, without talking about control premium. Mentioned current price at 1.8x current EBITDA, apparently without considering the devaluation. In all fairness, he did turn me on to SALT (of George Foreman Grill fame) during the last market meltdown. In any event, we should now have many questions answered within the next 30 days. Regards.