Brazil's Oi says shareholder requested meeting to change board
Oi SA, Brazil's largest fixed-line telephone carrier, on Friday said minority shareholder Société Mondiale Fundo de Investimentos em Ações requested a meeting to remove board members after the company filed for bankruptcy protection.
Oi said Société Mondiale warned it could call a shareholder meeting if Oi did not take the initiative within eight days. Oi said it was analyzing the request. Société Mondiale owns a 6.64-percent stake of Oi, the company said in a filing.
Yeah, but global shareholder value is below 1 billion, which is nothing for a company with many million clients. I know that the company value will be less than competitors, but 1 billion is a small ammount.