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

To: wl9839 who wrote (15292)	5/14/1999 9:03:00 AM
From: wl9839	Read Replies (1) \| Respond to of 22640

Brazil's Telebras to Be Removed From Bovespa Index, Gazeta Says Brasilia, May 14 (Bloomberg) - Receipts of shares in Telecomunicacoes Brasileiras SA, the heaviest weighted stock in Brazil's Bovespa stock index, will be removed from the index on Sept. 1, newspaper Gazeta Mercantil reported. The telecommunications company, which was split up into 12 companies and sold off last year by the government, will be replaced in the index by the individual companies. The weighting of the 12 companies is expected to be announced by early June. After last year's sell-off, Bovespa index officials decided to give investors the option of trading receipts of the former holding company, rather than the stock of individual companies, out of concern that investors weren't familiar with the newly spun-off companies. ------------------------------------------------------------------------ © Copyright 1999, Bloomberg L.P. All Rights Reserved.