April 11, 2018 / 11:47 PM / 9 days ago

Brazil's Oi shareholders to be diluted by 72 pct

BRASILIA, April 11 (Reuters) - Shareholders in Brazil’s Oi SA will be diluted by 72.12 percent, the indebted phone carrier said on Wednesday, after receiving information regarding the option chosen by bondholders to receive their credits.

That is a slightly larger dilution ratio than a preliminary estimate of 71 percent published last month.

Oi filed for bankruptcy protection in 2016 and received approval from shareholders for its recovery plan last December.

The company said bondholders who gave an indication of their option hold around $8.463 billion in credits. (Reporting by Bruno Federowski; Editing by Sandra Maler)

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