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Dutch court: Oi units won't enter bankruptcy yet

Feb. 02, 2017 5:44 PM ETOi S.A. (OIBZQ) StockOIBZQBy: Jason Aycock, SA News Editor9 Comments
  • A Dutch court has decided that two units of bankrupt telecom Oi (OIBR) won't start bankruptcy proceedings, overruling creditors in the matter.
  • The two units (Oi Brasil Holdings Coöperatief and Portugal Telecom International Finance) will continue operating under "suspension of payments" status, though creditors wanted to convert that status to bankruptcy.
  • Those two units issued about €5.8B in debt, making up most of Oi's bond debt (about €8.5B).

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