- Reuters•11 hours ago
A group of creditors of Brazil's struggling phone operator Oi SA, including export credit insurers and banks, plans to present to the company in the next two weeks a new restructuring proposal. The group, represented by FTI Consulting Canada ULC, Milbank, Tweed, Hadley & McCloy LLP, Mattos Filho, Veiga Filho, Marrey Jr. and Quiroga Advogados, said in a statement that it is in talks with the Sawiris Group and bondholders represented by Moelis & Co for an alternative restructuring plan for Oi. Oi, Brazil's forth largest wireless carrier, went into bankruptcy protection last June.
- Reuters•4 days ago
A Brazilian Senate committee on Tuesday approved changes in the legal framework for telecommunications companies, overhauling a concession-based model that had created uncertainty about the value of their fixed-line assets. The bill will be signed into law by President Michel Temer unless a senator calls for a vote on the Senate floor within five working days.
- Reuters•8 days ago
Oi SA could scrap a proposed three-year restriction on creditors swapping part of their debt for equity, in a sign that Brazil's No. 4 wireless carrier wants to lure bondholder support to exit bankruptcy protection faster, two people with knowledge of the matter said on Friday. The limit, which Oi included in a reorganization proposal on Sept. 5, drew creditor anger and helped slow the carrier's in-court restructuring. Chief Executive Officer Marco Schroeder told Oi's two bondholder groups this week that shareholders now seem less reluctant to accept a debt-for-equity swap, the people said.
OIBR3.SA : Summary for OI ON N1 - Yahoo Finance
Oi S.A. (OIBR3.SA)
Sao Paolo - Sao Paolo Delayed Price. Currency in BRL
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|Day's Range||2.81 - 2.90|
|52 Week Range||0.78 - 4.37|
|PE Ratio (TTM)||-0.26|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|