October 30, 2017 / 10:10 PM / a year ago

Brazil government still working on Oi SA restructuring proposal

BRASILIA, Oct 30 (Reuters) - A government working group drafting proposals to help bring debt-laden Brazilian phone carrier Oi SA out of bankruptcy protection has not reached an agreement yet, and the group will meet again on Wednesday, Solicitor-General Grace Mendonça said on Monday.

Mendonça said a presidential decree is a possible solution to resolving Oi’s debts, but no agreement has yet been made. She added that it should not be necessary to postpone a creditors meeting scheduled for Nov. 10 in Rio de Janeiro. (Reporting by Leonardo Goy; Writing by Gram Slattery)

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