November 6, 2018 / 1:56 PM / 8 days ago

Brazil's Oi says arbitration court authorizes capital increase

SAO PAULO, Nov 6 (Reuters) - Brazilian telecommunications carrier Oi SA said on Tuesday in a securities filing that an arbitration court judge reversed a ruling that had blocked a proposed capital increase.

The capital rise, approved by Oi creditors in December 2017 amid a debt restructuring, had been blocked by another arbitration court judge on Oct. 26 on behalf of shareholder Bratel SARL, according to the filing.

With the latest decision, Oi is authorized to proceed with the transaction, which is part of its efforts to restructure 65 billion reais ($17.35 billion) in debt obligations.

$1 = 3.7472 reais Reporting by Ana Mano; Editing by Jeffrey Benkoe

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