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General

Oi plan points to profit by 2020

Wednesday 7 September 2016 | 16:03 CET | News
Brazilian operator Oi should become profitable in 2020, according to estimates by the EY consultancy based on Oi's judicial recovery plan, reports Jornal de Negocios. In four year, Oi should close the year with a net profit of BRL 1.04 million. The recovery plan would see part of Oi's debts converted into shares, up to a limit of BRL 32.3 billion. If the plan is approved, Oi would be required to redeem fully or partially new securities issued to debtholders, every six months for the next three years. If the securities in question (up to BRL 10 billion) are not redeemed within this deadline,

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Categories: General
Companies: Oi
Countries: Brazil
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