Wednesday, December 20, 2017

Oi approves its recovery plan, cut its debt in half and fine-tuned Anatel's strategy

The Assembly of Creditors once again restarted the company after a year and a half. The elimination of half of the financial debt, the injection of new money, the increase in investment and the possibility of dilution of shareholders by up to 75% have been approved. Oi is now a company with new momentum and is ready to be bought by anyone.

A year and a half after entering its judicial recovery, and after numerous comings and goings between what creditors and shareholders requested, in addition to the position of the Justice and the government throughout this process, Oi has managed to approve its recovery plan at the General Assembly of Creditors, which began on Tuesday, December 19, and concluded at dawn on Wednesday, the 20th. It was almost 15 hours of session that resulted in the conformity of a recovery plan of the company, with changes made throughout the day, and approved by practically 100% of the creditors in almost all categories. The proposal does not vary too much from the one presented a week ago.

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