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India

Oi SA em Recuperacao Judicial (OIBR3.SA)

OIBR3.SA on Sao Paulo Stock Exchange

3.60BRL
21 Jun 2018
Change (% chg)

R$ -0.05 (-1.37%)
Prev Close
R$ 3.65
Open
R$ 3.66
Day's High
R$ 3.71
Day's Low
R$ 3.59
Volume
1,176,900
Avg. Vol
4,205,731
52-wk High
R$ 6.24
52-wk Low
R$ 3.15

Latest Key Developments (Source: Significant Developments)

Court Administrator For Brazil's Oi Declares Quorum For Creditor Assembly
Tuesday, 19 Dec 2017 

Dec 19 (Reuters) - Oi Sa ::COURT ADMINISTRATOR FOR BRAZIL CARRIER OI'S BANKRUPTCY CASE ANNOUNCES SUFFICIENT QUORUM FOR CREDITOR ASSEMBLY TO START.  Full Article

Pharol says ready for major dilution in Oi, to go along with cash call
Friday, 24 Nov 2017 

Nov 24 (Reuters) - Portugal's holding company Pharol Sgps Sa ::CEO Luis Palha da Silva says Pharol is ready for a significant dilution of its stake in Brazil's troubled telecoms giant Oi under the latest restructuring plan.nL1N1NR02U.Pharol will seek to keep a large stake in Oi, wants to take part in a capital increase..Pharol is the largest shareholder in Brazil's troubled telecom group Oi, where it holds a 27.2 percent stake..Pharol will ponder various options, consider financial instruments to come up with cash for the capital increase..Laments a lack of cooperation of some Oi bondholders..Says the latest plan answers bondholder concerns..  Full Article

Pharol seeks to keep high stake in Oi in restructuring -CEO
Thursday, 12 Oct 2017 

Oct 12 (Reuters) - CEO of Portugal's Pharol SGPS , the largest shareholder in Brazil's telecom firm Oi says::Oi restructuring plan presented on Wednesday is "balanced and positive"..Luis Palha da Silva says Pharol will make an effort to keep its stake in Oi at highest possible percentage after the restructuring..Pharol is not opposed to "demanding" dilution of shareholdings in Oi..A restructured Oi will be ready for mergers and acquisitions activity, not necessarily as a target..Pharol holds a 25.7 percent stake in Oi..Oi, which is in a bankruptcy protection process, submitted a debt restructuring plan that would limit the debt-for-equity swap demanded by creditors to 25 percent of its capital, far below the 88 percent proposed by a group of bondholders. nL2N1MM2JP.Further company coverage: PHRA.LS.  Full Article

Pharol Q2 net profit doubles to 57.6 million euros YoY
Wednesday, 31 Aug 2016 

Pharol SGPS SA : Said on Tuesday Q2 net profit doubles to 57.6 million euros ($64.2 million) versus 28.5 million euros year ago . The book value of Pharol's investment in Oi as of June 30 amounted to 99.8 million euros . "The second half of 2016 will be marked by the evolution of the judicial recovery process (...) in which investee Oi is involved" CEO Luis Palha da Silva said . Q2 EBITDA loss at 1.9 million versus loss of 5.3 million euros year ago . Q2 gains in joint ventures and associates up at 64.2 million euros versus 51.9 million euros year ago .Says intends to exclusively focus on the management of the company's current portfolio, not foreseeing diversification in its activities nor relevant investments.  Full Article

Brazil's Oi reports strong first quarter as financial receipts soar

SAO PAULO, May 29 Brazilian telephone carrier Oi SA reported on Tuesday a consolidated net profit of 30.54 billion reais ($8.2 billion) for the first quarter, reversing a 3.69 billion real loss in the same period a year ago.