March 7, 2017 / 10:13 PM / in 7 months

Pharol's Mora resigns from board of Brazil's Oi

SAO PAULO, March 7 (Reuters) - Pharol SGPS SA, the controlling shareholder of Brazil’s debt-laden telephone carrier Oi SA, said in a statement on Tuesday that Rafael Mora had resigned as Pharol’s executive director and a member of Oi’s board.

João do Passo Vicente Ribeiro, previously named as Mora’s alternate on Oi’s board, will take his board seat, according to a Pharol press representative. The statement did not give a reason for Mora’s resignation.

Oi filed for Brazil’s largest ever bankruptcy protection last June to restructure about 65 billion reais ($20.8 billion) of bank, bond and regulatory liabilities. ($1 = 3.12 Brazilian reais) (Reporting by Ana Mano; Editing by Jonathan Oatis)

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