August 15, 2017 / 10:24 PM / a year ago

Brazil's Oi, regulator hold confidential talks on Tuesday

BRASILIA, Aug 15 (Reuters) - Brazilian telecoms regulator Anatel met with representatives of phone carrier Oi and mediators on Tuesday for confidential talks, Anatel said in a statement on Tuesday, amid Oi’s protracted bankruptcy process.

Oi, which filed for Brazil’s largest ever bankruptcy protection in June last year, has previously said it discussed with government officials how to better treat its 11 billion-real ($3.5 billion) fine it owes to Anatel to accelerate the company’s recovery.

Oi last week posted a wider-than-expected second-quarter loss as the phone carrier was forced to close currency-hedging positions because of its bankruptcy protection case.

$1 = 3.1688 reais Reporting by Silvio Cascione; Editing by David Gregorio

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