RIO DE JANEIRO (Reuters) - Shareholders of Brazilian mobile phone operator Oi on Monday gave a nod of approval to new board chairman Eleazar de Carvalho and the rest of the slate of new board members proposed by the company.
The shareholders’ meeting is a key step in sorting out the reorganized firm’s governance and formalising the 4 billion reais ($964 million) capital increase. It filed for bankruptcy protection in 2016 after buckling under 65 billion reais of debt.
($1 = 4.15 reais)
Reporting by Rodrigo Viga Gaier; Editing by Chizu Nomiyama