Brazilian Oi files for bankruptcy protection

On Monday 20 June, Oi, Brazil’s fourth mobile operator, presented the largest bankruptcy-protection filing in the history of Brazil at R$65bn (US$19bn). Oi was in talks to restructure its debt but the negotiations failed due to the imminent maturation of a euro-denominated bond valued at €231mn. Of this R$65bn, as much as R$13bn is owed…

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