November 9, 2017 / 12:15 PM / a year ago

Brazil regulator rejects Oi request for deadline extension

SAO PAULO, Nov 9 (Reuters) - Brazilian telecommunications regulator Anatel on Thursday rejected a request by telecoms company Oi SA to extend the regulator’s deadline to explain Oi’s latest restructuring proposal.

On Monday, Anatel demanded that Oi explain to the regulator how its latest debt restructuring proposal would be in the best interests of the company. On Wednesday the company asked for a seven-day extension to respond to Anatel’s inquiries. With Anatel’s rejection, Oi will now need to present a response by 2 p.m. Thursday. (Reporting by Tatiana Bautzer and Gram Slattery; Editing by Jeffrey Benkoe)

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