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Brazil regulator sees Oi CFO exit raising intervention risks
October 3, 2017 / 1:31 PM / 2 months ago

Brazil regulator sees Oi CFO exit raising intervention risks

SAO PAULO, Oct 3 (Reuters) - The resignation of the chief financial officer at Brazilian wireless carrier Oi SA on Monday evening contributed to the chances of a state intervention, the head of telecommunications regulator Anatel said on Tuesday.

Anatel President Juarez Quadros said at an industry event that the exit of CFO Ricardo Martins worsened the outlook for Oi’s in-court restructuring of 65 billion reais ($20.6 billion) worth of debt in Brazil’s biggest bankruptcy protection case ever.

$1 = 3.16 reais Reporting by Alberto Alerigi Jr.; Editing by Chizu Nomiyama

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