UPDATE 1-Brazil's Oi open to buyers after restructuring -CEO [Reuters]
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Source: Reuters
UPDATE 1-Brazil's Oi open to buyers after restructuring -CEO | Reuters Reuters Staff 3 Min Read (Updates with CEO comments, details of plan and lawsuits) By Rodrigo Viga Gaier and Leonardo Goy RIO DE JANEIRO/BRASILIA, Dec 20 (Reuters) - Brazilian telecoms company Oi SA is up for sale after it emerged from Latin America’s largest-ever bankruptcy protection process, Chief Executive Eurico Teles said on Wednesday. Teles said the company was ready to receive international investors and had received an offer of support from China Development Bank. Many international investors, such as China Telecom Corp Ltd and China Mobile Ltd, offered a capital injection as the company struggled for a year and a half to restructure some 65.4 billion reais ($20 billion) in debt. While rivals from Telefonica Brasil SA to America Movil SAB have cried foul at the prospect of competing with a Chinese state firm, fresh capital is seen as crucial to making Brazil’s largest fixed-line carrier competitive. “The c
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