Zacks Analyst Interview Highlights: Embotelladora Andina,

AmBev, Brasil Telecom and Vivo 
CHICAGO--(BUSINESS WIRE)--May 24, 2007
Zacks.com releases the latest Analyst Interview. Today's interview
is with senior analyst Claudio Freitas, who discusses Embotelladora
Andina (NYSE: AKO/A), AmBev (NYSE: ABV), Brasil Telecom (NYSE: BRP)
and Vivo (NYSE: VIV). 
A synopsis of today's Analyst Interview is presented below. The
full article can be read at http://at.zacks.com/?id=2678. 
The Brazilian currency has been appreciating continuously. Do you
believe this might be a source of concern? 
Just some days ago the U.S. dollar went below the psychological
level of R$2.00. Four years ago the R$/US$ exchange rate was over
R$3.00. This has been a huge movement, and the concern is
understandable. However, I believe the continued strength of the real
in the very short term is unavoidable. It is amazing to find that
Brazilian domestic interest rates went down from more than 19% in
September 2005 to 12.50% in May 2007 and the Brazilian real continued
to gain value against the U.S. dollar. In fact, the Brazilian real is
at its highest level in more than six years. 
For the second half of 2007, we expect more rate cuts in Brazil.
Nevertheless, we understand the effect on the Brazilian real will not
be very strong. The basic fundamentals behind the strength of the
Brazilian real, including the positive trade balance and current
account surplus, remain in place. 
Which industries and/or specific stocks are currently at the top
of you Buy list? 
I have been recommending the beverage industry in Latin America
for some time, and some stocks in this industry are now not that
attractive anymore. Nevertheless, I still like Embotelladora Andina
(NYSE: AKO/A) in Chile and AmBev (NYSE: ABV). Even though I do not
find the Brazilian telecom industry particularly interesting, it is
impossible not to note that the current prices of Brasil Telecom
(NYSE: BRP) and Vivo (NYSE: VIV) remain very attractive. 
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