November 30, 2017 / 6:51 PM / a year ago

Brazil's Oi hopes to advance in talks to settle regulatory debts

The logo of Brazilian telecoms company Oi SA is pictured on a payphone in Rio de Janeiro, Brazil November 1, 2017. REUTERS/Ricardo Moraes

RIO DE JANEIRO (Reuters) - Oi SA (OIBR4.SA), the Brazilian telephone carrier operating under bankruptcy court protection, hopes to advance in talks with the country’s solicitor general (AGU) on an agreement to repay the company’s regulatory debts, chief executive Eurico Teles Neto said on Thursday.

The company is proposing to pay 1.7 billion reais ($518.9 million) in cash to settle debts with regulator Anatel, and an additional 6.8 billion reais in 239 installments, the executive told reporters in a press conference.

($1 = 3.2761 reais)

Reporting by Rodrigo Viga Gaier; Writing by Ana ManoEditing by Chizu Nomiyama

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