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Sawiris, debtholders to invest USD 1.5 bln in Oi - report

Monday 24 October 2016 | 09:43 CET | News
Egyptian billionaire Naguib Sawiris and some Oi creditors are considering injecting BRL 1.5 billion in Oi, the Brazilian telecom operator in bankruptcy, two sources with knowledge of the matter told Reuters. According to the plan, the capital injection aims to reduce the debt of BRL 65.4 billion and give Sawiris and his partners a share of around 85 percent of the Brazilian company. Partners include about 70 percent of Oi creditors advised by Moelis & Co.

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Categories: General
Companies: Oi
Countries: Brazil
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