December 9, 2016 / 9:36 PM / 2 years ago

Creditors to present Brazil's Oi with new restructuring plan

SAO PAULO, Dec 9 (Reuters) - A group of creditors of Brazil’s struggling phone operator Oi, including export credit insurers and banks, are in talks with the Sawiris Group and bondholders represented by Moelis & Co for an alternative restructuring plan.

According to a statement by consulting firms and law offices representing the group of creditors who hold more than $1.6 billion of claims against Oi, the alternative restructuring plan is expected to be presented by Sawiris to the Brazilian company in the next two weeks. (Reporting by Aluisio Alves and Marcelo Teixeira; Editing by Lisa Shumaker)

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