Oi bondholders approve Portugal Telecom sale to Altice with conditions

martes 27 de enero de 2015 06:05 GYT

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)