1 Min Read
SAO PAULO (Reuters) - Orascom TMT Investments Sarl has voluntarily extended for a third time the deadline for Brazilian phone carrier Oi SA to consider an alternative in-court reorganization plan, according to a securities filing on Friday.
Oi (OIBR4.SA) said in the filing the decision will allow management and shareholders to examine Orascom's suggestions for the reorganization. Oi said Orascom voluntarily sent a letter to the company extending the deadline to May 1.
Reporting by Ana Mano; Editing by Lisa Shumaker