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Brazil's Oi Says Shareholder Meetings Still Suspended By Bankruptcy Court

The shareholder meetings were called by activist investor Société Mondiale in August
By The News · 08 of September 2016 14:09:08
The headquarters of the Brazil's largest fixed-line telecoms group Oi, is pictured in Rio de Janeiro, REUTERS/Sergio Moraes, photo: Reuters/Sergio Moraes

Oi SA, Brazil’s largest fixed-line telephone carrier, said the Rio de Janeiro court overseeing its bankruptcy protection maintained the suspension of shareholder meetings originally scheduled for this Thursday, according to a securities filing.

The shareholder meetings were called by activist investor Société Mondiale in August, but were suspended last week by the court. Société Mondiale is seeking to remove all Oi board members appointed by majority shareholder Pharol SGPS.