Oi denies knowledge of bankruptcy request

Cash-strapped Brazilian telco Oi has reacted with surprise to newspaper claims that it has filed a bankruptcy request. In response to correspondence from the B3 stock exchange in Sao Paulo, Oi informed the market: ‘Oi clarifies that it has no knowledge of the bankruptcy request in question and reiterates that it has been duly fulfilling its payment obligations, especially those set forth in its Judicial Reorganisation Plan, there being no history of problems related to any delays or noncompliance with such obligations among a universe of almost 40,000 creditors. Oi further reiterates its commitment to keep its shareholders and the market timely informed about any material aspect of its activities and businesses that it becomes aware of.’ The claims were published in Valor Economico on 17 August.