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General

Rival Oi creditor group criticises Sawiris proposal

Friday 23 December 2016 | 15:24 CET | News
A group of Oi debtholders are favoring their coordinating committee over others in a proposed restructuring of the Brazilian operator, according to a rival group of creditors, reports Bloomberg. Debtholders represented by Moelis & Co and backed by Egyptian billionaire Naguib Sawiris made a new restructuring proposal for Oi that other creditors say gives the members of the group's steering committee an unjustifiably high commission in exchange for a guaranteed buy-in of new Oi shares, said Corrado Varoli, CEO of G5 Evercore, which is advising the rival group. The proposal also gives Sawiris

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Categories: General
Companies: Oi
Countries: Brazil
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