U.S. Markets close in 1 hr 1 min

Brazil's Oi says U.S. tribunal approves bankruptcy protection request

People walk in front of the headquarters of the Brazil's largest fixed-line telecoms group Oi, in Rio de Janeiro, Brazil, June 22, 2016. REUTERS/Sergio Moraes

RIO DE JANEIRO (Reuters) - Brazilian telecoms provider Oi SA said on Wednesday a U.S. tribunal approved its request for Chapter 15 bankruptcy protection.

Brazil's largest fixed-line phone carrier and No.4 mobile operator, along with six subsidiaries, filed on Monday for protection from creditors on 65.4 billion reais ($19.3 billion) of bonds, bank debt and operating liabilities.


(Reporting by Stephen Eisenhammer; Editing by Sandra Maler)