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Brazil's Oi vows to settle 11 bln reais of regulatory fines - CEO
2016年11月23日 / 下午1点52分 / 10 个月前

Brazil's Oi vows to settle 11 bln reais of regulatory fines - CEO

BRASILIA, Nov 23 (Reuters) - Brazil’s Oi SA will formally kick off this week talks to settle about 11 billion reais ($3.3 billion) of fines imposed by industry watchdog Anatel, the wireless carrier’s Chief Executive Officer Marco Schroeder said on Wednesday.

The company will propose cancellation of the fines in exchange for investment commitments, Schroeder said during an industry event. Schroeder also noted the firm, which filed for bankruptcy protection in June to restructure about 65.4 billion reais of bond, bank loans and regulatory liabilities, is expected to conclude talks with its creditors in the first half of 2017. ($1 = 3.3981 reais) (Reporting by Leonardo Goy; Editing by Chizu Nomiyama; Writing by Ana Mano)

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