Brazil’s Oi SA has appointed two board members, Hélio Costa and João Ribeiro, as directors in the debt-laden carrier.
Costa was appointed to the board last year by influential minority shareholder Nelson Tanure, through his fund Societé Mondiale. Tanure, allied with major shareholder Pharol SGPS SA , is in talks with creditors to restructure the company’s $20 billion debt.
By: Reuters.
Reporting: Tatiana Bautzer.
Editing: Chris Reese.
Photo: GC Grapevine.
Review: Emerging Market Formulations & Research Unit, Flagship Records.