SAO PAULO Dec 12 Brazilian telecommunications
industry watchdog Anatel is slated to decide on changes to the
structure of carrier Oi SA's board in coming days, a
senior government official said on Monday.
Speaking on the sidelines of an event in Rio de Janeiro,
Communications Minister Gilberto Kassab told reporters that,
once the changes are approved, the watchdog will keep an
observer at the board of Oi, which is currently under bankruptcy
protection proceedings. He did not elaborate on those changes.
On Nov. 8, Anatel suspended two board members appointed by
minority investor FIA Société Mondiale, on suspicion they
participated in meetings and influenced decisions affecting the
carrier without the watchdog's permission.
Oi's 65.4 billion-real ($19 billion) bankruptcy protection
case, Brazil's biggest ever, has been complicated by rifts
between different groups of creditors and
Oi's preferred shares, its most widely traded
class of stock, rose 6.2 percent to 2.56 reais in early
afternoon trading in Sao Paulo. They have risen 31 percent so
far this year.
(Reporting by Rodrigo Viga Gaier; Writing by Tatiana Bautzer;
Editing by Guillermo Parra-Bernal and Paul Simao)