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General

Oi to contract new financial advisor - report

Friday 21 October 2016 | 09:17 CET | News
Brazilian operator Oi is in final negotiations to hire Alvarez & Marsal as its new financial advisor, reports O Globo. Alvarez will replace US consultancy PJT. According to a source involved in the process, Alvarez will be responsible for negotiating with creditors over Oi's debt, amounting to around BRL 65 billion. According to sources familiar with the talks, PJT faced strong opposition to the plan presented by Oi for negotiating with creditors, which foresees a 70 percent reduction in the value of the debt of bondholders.

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Categories: General
Companies: Oi
Countries: Brazil
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