October 20, 2017 / 1:59 PM / a year ago

Brazil's Oi ready for Monday creditors meeting, CEO says

BRASILIA, Oct 20 (Reuters) - Debt-laden Brazilian phone carrier Oi SA is “totally prepared” for a creditors assembly on Monday, but the group will continue conversations should a petition by bondholders to delay the meeting be approved, the company’s chief executive said on Friday.

Speaking to reporters while exiting the Finance Ministry in Brasilia, Oi CEO Marco Schroeder said the group could take advantage of a delay to reach a “slightly more consolidated” restructuring proposal. Earlier on Friday, several Oi bondholder groups said they had asked to delay the meeting of creditors.

Reporting by Marcela Ayres; Writing by Gram Slattery

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