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Oi’s board of directors approves judicial reorganisation plan

22 May 2023

Stricken Brazilian telco Oi has informed its shareholders and the market in general that its request for judicial reorganisation has been approved by its board of directors. The board rubber-stamped the decision on Friday 19 May. According to TeleTime, Oi now plans to put almost all of its remaining assets up for sale, including its corporate arm, Oi Solucoes and its remaining stake in fibre-to-the-home (FTTH) wholesale unit V.tal.

TeleGeography notes that the telco’s original judicial recovery period drew to a close on 14 December 2022, after around six-and-a-half years. When that process commenced in June 2016 it represented the largest bankruptcy request in Brazil’s history, with Oi booking BRL65.4 billion (USD13.1 billion) in debt.

Brazil, Oi

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