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Brazil's Anatel rejects Société Mondiale appeal on Oi board members
March 31, 2017 / 8:19 PM / 6 months ago

Brazil's Anatel rejects Société Mondiale appeal on Oi board members

SAO PAULO (Reuters) - Brazilian telecommunications regulator Anatel on Friday rejected an appeal by Société Mondiale Fundo de Investimento regarding its nomination of two alternative members to the board of phone company Oi SA (OIBR3.SA), upholding its decision in January.

In that ruling, Anatel’s directors said that Société Mondiale could not name the replacements for two independent board members because it would violate a requirement in Oi’s corporate statute.

Reporting by Ana Mano; Writing by Brad Haynes; Editing by James Dalgleish

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