UPDATE 2-Colombia's Valores Bavaria cuts 2002 loss by half

Newswire

(Writes through) By Phil Stewart BOGOTA, Colombia, Feb 28 (Reuters) - Colombian conglomerate Valores Bavaria said on Friday it reduced its 2002 loss by about 50 percent from the previous year, even after making $71 million in advance payments on upcoming debt. Valores forecast a return to profitability, possibly by 2004, as it continued to shed nonstrategic assets at home and expand into more profitable markets abroad. "The investment portfolio of Valores Bavaria is more healthy and ...

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