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Orascom aims at two out of nine seats of Brazil's Oi
December 23, 2016 / 6:00 PM / in a year

Orascom aims at two out of nine seats of Brazil's Oi

SAO PAULO, Dec 23 (Reuters) - Orascom TMT Investments SARL will have two out of nine seats on the board of Brazilian telephone carrier Oi SA if its binding offer to buy the company is successful, Karim Nasr, a representative of Orascom, told Reuters in a Friday interview.

The remaining board seats will be filled by four independent people and three representatives of the company’s new shareholders, mainly creditors of Oi who agree to participate in a proposed capital injection, Nasr said. (Reporting by Ana Mano; Editing by Will Dunham)

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