February 1, 2017 / 8:06 PM / a year ago

Board of Brazil's Oi seeks to solve debt problem before discussing investments

SAO PAULO, Feb 1 (Reuters) - The board of Brazil’s fourth-largest wireless carrier Oi SA on Wednesday decided the company should solve its court-supervised reorganization before discussing a potential capital increase or new investments, a source told Reuters.

The board, which was convened in Rio de Janeiro for most of the day, also decided to accept a recommendation from management and financial adviser LAPLACE Finanças to intensify talks with the creditors, with the aim to amend a debt restructuring plan presented by the company last September, the source, with direct knowledge of the talks, said on condition of anonymity. (Reporting by Ana Mano; Editing by Chris Reese)

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