Atacocha, Brasil Telecom, Wal-Mart Mexico: Latin Equity Preview

By [bn:PRSN=1] William Freebairn [] and Paulo Winterstein

Aug. 29 (Bloomberg) -- The following companies may have unusual price changes today in Latin America trading. Stock symbols are in parentheses, and share prices are from the previous close. Preferred shares are usually the most-traded class of stock in Brazil.

The MSCI Latin America Index rose 1.3 percent yesterday to 4,032.65.

Argentina

Telecom Argentina SA (TECO2 AF): Argentina's second-largest phone company said Argo Fund Ltd., a U.S. investment fund, didn't appeal a ruling blocking its legal claims against Telecom Argentina. The period to appeal the New York court ruling to the U.S. Supreme Court expired Aug. 27, Telecom Argentina said in a filing with regulators yesterday. Telecom Argentina rose 0.9 percent to 8.25 pesos.

Brazil

Brasil Telecom Participacoes SA (BRTP4 BS): The Brazilian phone company being bought by Telemar Participacoes SA approved the creation of a subsidiary in Colombia. The board of the Brasilia-based company also approved the restructuring of its Internet unit, without giving further detail in a filing posted yesterday on Brazil's securities regulator Web site yesterday. Brasil Telecom rose 1 percent to 21.30 reais.

Fertilizantes Fosfatados SA (FFTL4 BS) and Fertilizantes Heringer SA (FHER3 BS): Brazil's government eliminated its 4 percent import tariff on phosphoric and sulfuric acid and a 10 percent import tariff on dicalcium phosphate, chemicals used in the manufacture of fertilizers and animal feed, the Ministry of Agriculture said in a statement yesterday. Fertilizantes Fosfatados SA, Brazil's biggest fertilizer maker by market value, fell 1.6 percent to 92.50 reais. Fertilizantes Heringer, Brazil's third biggest publicly listed fertilizer maker, rose 2.3 percent to 18.83 reais.

Mexico

Bolsa Mexicana de Valores SAB (BOLSA MM): The operator of Mexico's only stock exchange will change rules next week permitting more stocks to be traded short and for the accounts of brokers. The exchange will announce which company stocks will be newly eligible for those types of trades today, Bolsa Mexicana said in a statement e-mailed yesterday. Bolsa Mexicana rose 1 percent to 11.94 pesos.

Wal-Mart de Mexico SAB (WALMEXV MM): Mexico's biggest retailer relies on non-food discretionary items for much of its sales, likely resulting in ``weak'' August revenue, Credit Suisse Group AG said in a research report yesterday. Wal-Mart de Mexico may say sales at stores open a year or more increased 5.5 percent from a year earlier, analysts led by Tufic Salem wrote. Walmex, as the company is known, is scheduled to report August sales Sept. 4, according to its Web site. Walmex rose 0.9 percent to 38.13 pesos.

Peru

Cia. Minera Atacocha (CMA/C PE): Peru's fifth-largest zinc producer said shareholders may sell up to a 50 percent stake in the company as part of a possible takeover attempt. A group of shareholders is negotiating with a third party that was not identified by Lima-based Atacocha in a filing with Peru's securities regulator yesterday. Atacocha rose 12 percent to 6 soles.

To contact the reporter on this story: William Freebairn in Mexico City at wfreebairn@bloomberg.net; Paulo Winterstein in Sao Paulo at pwinterstein@bloomberg.net.