SAO PAULO, Jan 22 (Reuters) - Societe Mondiale, an investment vehicle owned by shareholder Nelson Tanure, has sold part of its stake in Brazilian telecommunications company Oi SA , after a defeat in a creditors meeting last month, according to a statement issued on Monday.
Societe Mondiale reduced its stake in the company to 3.67 percent from 5.28 percent. Tanure opposed a proposal approved by creditors and a bankruptcy court that allows bondholders to trade their debt for a controlling stake in Oi.
Oi is undergoing a $20 billion court-supervised debt restructuring that is is Latin America’s largest-ever bankruptcy potection process. (Reporting by Tatiana Bautzer; Editing by Jonathan Oatis)