|Day's Range||0.00 - 0.00|
|52 Week Range|
|PE Ratio (TTM)||N/A|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Orascom TMT Holdings SAE and a group of bondholders have given Oi SA another month to amend a reorganization plan, in a move that could help accelerate the Brazilian telephone carrier's exit from bankruptcy protection. In a joint statement, Orascom and the bondholders said a list of suggestions to amend the plan will be valid through March 31. Under terms of the December proposal, Orascom and the bondholders, who are represented by Moelis & Co, vowed to pump as much as $1.25 billion into Oi, take immediate control of the carrier and reorganize the company.
Brazil’s government can’t waive Oi SA’s debt with a local regulator and state-run banks, the communications minister said, denying the phone carrier a lifeline that would have helped it pull out of the ...
Changes in Brazil's telecom law currently under debate in the Senate are not being taken into account by debt-laden carrier Oi SA as it devises its in-court reorganization plan, Oi Chief Executive Marcos Schroeder said on Tuesday. Speaking at an industry event in Brasília, Schroeder said the imminent reforms will have no economic effect on the company's reorganization in bankruptcy court. Schroeder's comments suggest that Oi will not let the reform's current legal limbo slow negotiations with creditors to restructure about 65.4 billion reais ($21.1 billion) of bank debt, bonds and regulatory liabilities.