December 15, 2017 / 6:18 PM / 2 years ago

Brazil telecoms regulator Anatel still against Oi restructuring plan

The logo of Brazilian telecoms company Oi SA is pictured on a payphone in Rio de Janeiro, Brazil November 1, 2017. REUTERS/Ricardo Moraes

BRASILIA (Reuters) - Brazilian telecoms regulator Anatel still plans to vote against a plan put forth by carrier Oi SA (OIBR4.SA) to exit bankruptcy protection, the body’s president, Juarez Quadros, said on Friday.

Creditors are set to meet in Rio de Janeiro on Tuesday to vote on a company plan to restructure some 65 billion reais ($19.6 billion) in debt.

A negative vote by Anatel, which holds 14 billion reais in the carrier’s debt through regulatory fines, could complicate the process, but the plan would still have a path to approval given its broad support among other major creditors.

($1 = 3.32 reais)

Reporting by Mateus Maia; Writing by Gram Slattery; Editing by Meredith Mazzilli

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