Tuesday, September 06, 2016

Oi's judicial recovery

A proposal to include from the exchange of debt to the sale of assets and mobile operations

Oi presented before Justice its judicial recovery plan that includes the sale of properties which until recently were reversible assets that were to be left to the State -but by altering the concession would be left for operators-, and of mobile phone operations. It also adds the payment of small debts to creditors and suppliers, and the possibility that creditors are left with up to 85% stake in the company, or to start getting paid in ten years.

Out of everything announced by Oi, perhaps the most surprising is selling part of its mobile operations. Something that would only be beneficial for the company where it does not have fixed and other services, i.e. a strong operation in areas where a convergent approach would be more difficult to achieve. Other sales in other countries as Africa and Asia, properties in Brazil and of datacenters and subsidiaries and networks in the area were expected.

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