BRASILIA, June 20 (Reuters) - Brazil’s telecom carrier Oi SA signed a debt standstill agreement for 180 days with state-owned development bank BNDES, the newspaper Valor Economico said on Monday.
The size of Oi’s debt to BNDES was unclear, according to the newspaper. It added that, overall, the company owed about 10 billion reais to development banks.
Spokespeople at BNDES and Oi did not immediately respond to requests for comments.
Oi, Brazil’s most indebted telephone company, is seeking to restructure about 25 billion reais ($7.3 billion) of debt. The restructuring would be Latin America’s second biggest, behind Mexican cement maker Cemex SAB’s bond reorganization in 2009, data compiled by Thomson Reuters showed. (Reporting by Silvio Cascione Editing by W Simon)