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General

Oi creditor group seeks alternative recovery plan

Monday 22 August 2016 | 10:36 CET | News
A group of creditors of Brazilian operator Oi led by ACGM is putting together a recovery plan that it believes will be superior to the company's own proposal, ACGM CEO told Bloomberg. The group, which calls itself Consorcio Oi, includes about 20 hedge funds and private equity funds. It said that law firms Felsberg Advogados and Morrison & Foerster joined the team, which besides ACGM also includes restructuring consultancy Integra Associados and two longtime telecom industry executives -- Joao Cox, the former head of America Movil's Brazilian unit, and Mario Cesar Araujo, former CEO of TIM

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Categories: General
Companies: Oi
Countries: Brazil
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