November 8, 2016 / 1:07 PM / a year ago

Brazil's watchdog suspends Societe Mondiale from Oi board temporarily

BRASILIA, Nov 8 (Reuters) - Brazil’s telecom watchdog Anatel on Tuesday temporarily suspended Oi board members appointed by one of its main shareholders, FIA Société Mondiale, from participating in board meetings or influencing decisions.

Anatel’s head of competition Carlos Baigorri said the suspension will be valid until the watchdog decides whether Societe Mondiale needs Anatel’s prior consent to become a controlling shareholder of Oi. (Reporting by Silvio Cascione; Editing by Daniel Flynn)

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