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Oi bondholders reject revised restructuring plan
2017-10-16 08:03:00| Telecompaper Headlines
(Telecompaper) The major creditors of Brazilian operator Oi have reject the revised debt restructuring plan proposed by the company. According to the steering committees of the ad hoc group of Oi bondholders and the International Bondholder Committee, Oi's management and board have put forward a restructuring proposal that "appears to be driven by the objective of protecting and enhancing the interests of existing shareholders, to the detriment of the best interests of the company and other stakeholders". The plan, in the best case scenario, would result in a company that is not viable or sustainable, they said.
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Category:Telecommunications