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

To: wl9839 who wrote (15294)	5/14/1999 12:03:00 PM
From: wl9839	Read Replies (1) \| Respond to of 22640

Reuters Story - May 14, 1999 09:57 SAO PAULO, May 14 (Reuters) - Brazil's Telesp Participacoes , owned by Spain's Telefonica , published the following financial results for the first quarter. Q1 1999 Net profit 99.526 mln Oper loss 183.158 mln Gross revs 1.237 bln Net worth 8.554 bln NOTE: All figures are in Brazilian reais and not adjusted for inflation. Telesp Participacoes is the holding company for Telecomunicacoes de Sao Paulo S.A. . The figures are reported according to Brazilian accounting law. Telesp Participacoes, which serves Brazil's wealthiest and most populous state, also has an ADR trading on the the New York stock exchange. Telesp Participacoes was one of the 12 companies spun off of the former state-owned telephone monopoly Telebras last year in preparation for the July 1998 privatization of the sector. Year-earlier figures were not available. Copyright 1999 Reuters Limited. All rights reserved.