{"id":323610,"date":"2022-12-16T12:05:48","date_gmt":"2022-12-16T12:05:48","guid":{"rendered":"https:\/\/www.mobileworldlive.com\/?p=361258"},"modified":"2022-12-16T12:05:48","modified_gmt":"2022-12-16T12:05:48","slug":"oi-exits-bankruptcy-protection-after-6-years","status":"publish","type":"post","link":"https:\/\/itteacheritfreelance.hk\/wordpress\/index.php\/2022\/12\/16\/oi-exits-bankruptcy-protection-after-6-years\/","title":{"rendered":"Oi exits bankruptcy protection after 6 years"},"content":{"rendered":"

<\/p>\n

\tOperator Oi exited bankruptcy protection after a Brazilian court agreed it had met terms regarding certain debt repayments, ending a restructuring process [1] commenced in 2016.<\/p>\n

Oi stated estimated total debts of BRL65 billion ($12.2 billion) had been substantially reduced to BRL18.3 billion by the end of the bankruptcy proceedings, as it successfully completed obligations including sales of its assets [2] and loan settlements with state development bank BNDES.<\/p>\n

The operator noted it paid-off its debts with BNDES in the amount of BRL4.6 billion and settled a BRL2.4 billion bridge loan alongside debts related to acquisition and InfraCo.<\/p>\n

Among various debt-reduction moves, Oi offloaded data centres to Piemonte Holding in 2021 and its mobile business to units of Telecom Italia, Telefonica and America Movil.<\/p>\n

Oi stated it will take the next steps in \u201cthe execution of its strategic plan\u201d to fulfil “the remaining obligations of the Judicial Reorganisation Plan\u201d.<\/p>\n

The operator said its next recovery plans involve improving \u201ccore business” revenue, exploring new sources and a cost structure shake up.<\/p>\n

Oi added it will continue to optimise its \u201cdebt profile\u201d and meet its obligations as a fixed-line operator along with “services based on legacy infrastructure”.<\/p>\n

[1] https:\/\/www.mobileworldlive.com\/featured-content\/home-banner\/oi-files-for-bankruptcy-protection-after-negotiations-fail\/
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/oi-mobile-asset-sale-finally-crosses-the-line\/<\/p>\n\n

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Operator Oi exited bankruptcy protection after a Brazilian court agreed it had met terms regarding …<\/p>\n

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