August 9, 2016 / 12:22 AM / 2 years ago

Minority investor in Brazil's Oi calls shareholders' meeting - statement

SAO PAULO, Aug 8 (Reuters) - Société Mondiale, a minority shareholder of Brazilian telephone company Oi SA, said on Monday it would formally call a shareholders’ meeting next month to discuss changes to the company’s board of directors, according to a statement sent to Reuters.

The activist investor, which began to acquire Oi stock around the time of the company’s bankruptcy filing on June 20, is proposing the replacement of six members of Oi’s board, including five appointed by Oi’s majority owner Pharol SGPS SA .

The meeting should take place on Sept. 8, Société Mondiale said in the statement.

The minority investor is also seeking the annulment of a March 2015 shareholders meeting in which an agreement between Oi and Portugal Telecom SGPS, as Pharol was previously known, was approved. The agreement concluded the takeover of Oi by Portugal Telecom.

Société Mondiale, an investment vehicle for Brazilian businessman Nelson Tanure, owns 7 percent of Oi’s voting stock. During the proposed Sept. 8 shareholders’ meeting, the fund will also propose that Oi pursues a claim against Santander Brasil , which advised Oi on its 2015 merger with Portugal Telecom. (Reporting by Ana Mano, editing by G Crosse)

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