|Day's Range||0.313 - 0.313|
|52 Week Range||0.229 - 0.388|
|PE Ratio (TTM)||N/A|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Société Mondiale, a minority shareholder of Brazilian telephone company Oi SA, said on Monday it would formally call a shareholders' meeting next month to discuss changes to the company's board of directors, according to a statement sent to Reuters. The activist investor, which began to acquire Oi stock around the time of the company's bankruptcy filing on June 20, is proposing the replacement of six members of Oi's board, including five appointed by Oi's majority owner Pharol SGPS SA . The meeting should take place on Sept. 8, Société Mondiale said in the statement.
A Brazilian activist investor with a stake in bankrupt telecom provider Oi SA has requested a meeting with shareholders to discuss allegations that the carrier's majority owner Pharol SGPS SA committed improprieties, according to a securities filing made late on Friday. Société Mondiale, which holds 7 percent of Oi's voting shares, proposed that the meeting be called in eight days, the filing showed. Oi said in a statement on Monday its board would analyze Société's request, without giving a date for the meeting.
Aurelius Capital Management LP has contacted bondholders in Oi SA's Netherlands-based units to challenge the basis of a prior restructuring accord that substantially lowered the recovery value of their bonds, seeking to gain clout in Brazil's biggest-ever bankruptcy reorganization. New York-based Aurelius, a distressed debt investment firm that owns bonds issued by Oi SA subsidiaries Portugal Telecom International Finance BV and Oi Brasil Holdings Coöperatief UA, began distributing a letter explaining its strategy to fellow bondholders on Friday. In the letter, Aurelius challenges the notion spread during restructuring talks between Oi and a group of investors advised by Moelis & Co that bonds backed by the Telemar Norte Leste SA unit rank first in repayment order in relation to those sold by Oi Brasil Holdings and Portugal Telecom International.