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Board of Brazil's Oi delays creditor plan decision -source
September 27, 2017 / 7:49 PM / 2 months ago

Board of Brazil's Oi delays creditor plan decision -source

BRASILIA, Sept 27 (Reuters) - The board of Brazilian phone carrier Oi SA has delayed a decision on whether to approve a plan to emerge from bankruptcy protection, which was to include a bigger debt-for-equity swap than initially thought, a person with direct knowledge of the situation said on Wednesday.

According to the person, who declined to be named because the matter remains private, management at Oi aimed to propose a planned capital injection of 9 billion reais ($2.8 billion), raising it from 8 billion reais. (Reporting by Leonardo Goy; Writing by Guillermo Parra-Bernal; Editing by Paul Simao)

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