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Outside investors distract from Oi restructuring -CEO
November 13, 2017 / 9:18 PM / 7 days ago

Outside investors distract from Oi restructuring -CEO

SAO PAULO, Nov 13 (Reuters) - Debt-laden Brazilian telecoms provider Oi SA would stand to gain from a third-party capital injection, but the company should focus on talks between creditors and shareholders before engaging other strategic investors, its chief executive said on Monday.

In an interview on the company’s third-quarter results, CEO Marco Schroeder said he thought it was “extremely important” that a long-delayed creditors meeting be held on Dec. 7 even if creditors and shareholders had not reached an agreement.

In the results, Oi reported a net profit of 8 million reais ($2 million) in the third quarter, up from a net loss of 1.214 billion reais a year earlier, as a stronger currency reduced the burden of its dollar-denominated debts.

$1 = 3.29 reais Reporting by Gram Slattery and Brad Haynes; editing by Grant McCool

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