August 9, 2017 / 9:58 PM / a year ago

Brazil, Oi in talks over watchdog fine, CEO says

SAO PAULO, Aug 9 (Reuters) - Brazilian phone carrier Oi SA and government officials are discussing how to better treat an 11 billion-real ($3.5 billion) fine it owes to a telecommunications watchdog to accelerate the company’s emergence from bankruptcy protection, Chief Executive Officer Marco Schroeder said on Wednesday.

Schroeder, who spoke to Reuters to discuss second-quarter results, said a creditor assembly to vote on Oi’s restructuring plan will probably be held around October, instead of an initial target for September. Oi filed for Brazil’s largest bankruptcy protection in June last year. ($1 = 3.1554 reais) (Reporting by Guillermo Parra-Bernal; editing by Grant McCool)

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