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Orascom extends deadline for Brazil's Oi alternative plan a third time
March 31, 2017 / 10:13 PM / 8 months ago

Orascom extends deadline for Brazil's Oi alternative plan a third time

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

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