Oi bondholders approve Portugal Telecom sale to Altice with conditions
SAO PAULO Jan 27 (Reuters) - Debt holders of Oi SA , Brazil's most indebted phone carrier, approved the sale of merger partner Portugal Telecom's Portuguese assets to rival Altice Portugal, subject to some conditions, according to a securities filing late Monday.
The company said bondholders determined that proceeds from the sale must be used to help consolidate the telecommunications industry, for paying down debt, or a combination of both.
Oi will call another bondholder meeting for Feb. 12. (Reporting by Marcela Ayres; Writing by Asher Levine; Editing by Larry King)
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