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

To: wl9839 who wrote (15296)	5/14/1999 12:11:00 PM
From: wl9839	Read Replies (1) \| Respond to of 22640

S.Paulo bolsa to cancel Telebras receipts in index Reuters Story - May 14, 1999 11:55 SAO PAULO, May 14 (Reuters) - The Sao Paulo Stock Exchange said Friday it will pull Telebras receipts out of the market's bluechip index Bovespa , nearly one year after the giant telephone system was privatized. The exchange will replace the receipts -- which allowed investors to trade 12 Telebras units in a single basket -- with each and one of the individual firms beginning September 1, it said in a statement. The new composition of the Bovespa index would be released on June 1. Telebras receipts grouped together 12 firms that were spun off of the federal telecommunications system prior to its privatization last July. The 12 firms are: Telesp Participacoes Tele Centro Sul Participacoes Tele Norte Leste Participacoes Tele Sudeste Participacoes Tele Centro Oeste Participacoes Telemig Participacoes Embratel Tele Celular Sul Participacoes Tele Leste Celular Participacoes Tele Nordeste Celular Participacoes Telesp Celular Participacoes Tele Norte Celular Participacoes -- -- Copyright 1999 Reuters Limited. All rights reserved.