Shareholders at Brazil's Oi approve stock conversion plan

miércoles 2 de septiembre de 2015 07:38 GYT
 

SAO PAULO, Sept 2 (Reuters) - A shareholder assembly at Brazilian telecom company Oi SA approved a plan to convert preferred stock into common, according to a securities filing on Wednesday.

Individual shareholders now have until Oct. 1 to opt into the swap of 0.9211 common shares for each preferred share. The plan will go ahead with the participation of at least two-thirds of shareholders. (Reporting by Brad Haynes and Priscila Jordao; Editing by Lisa Von Ahn)