Brazil's Oi 'open to all options' as industry consolidation looms
SAO PAULO Jan 23 (Reuters) - Brazilian phone carrier Oi SA is open to all options in a potential process of industry consolidation so long as the transaction helps it "create shareholder value," Chief Executive Officer Bayard Gontijo said on Friday.
Rio de Janeiro-based Oi gained financial muscle to either take over or merge with a rival after shareholders in a Portugal-based subsidiary approved its sale late on Thursday, Gontijo said. Oi has no plans to raise funding for any merger, he added.
Gontijo said in an interview that talks with holders of Oi's local notes to amend certain contractual terms are "well advanced." The company will hold a bondholders' meeting on Monday to gain consent from investors to undertake asset sales and change a debt-reduction metric target. (Reporting by Guillermo Parra-Bernal and Luciana Bruno)
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