Brazil's Oi says Portugal judge overrules restructuring plan

Pharol SGPS SA

01/08/2018 13:31

SAO PAULO, Aug 1 (Reuters) - Brazilian telephone carrier Oi
SA  OIBR4.SA  said on Wednesday that a commercial judge in
Lisbon has overruled the company's restructuring plan as
approved by its creditors in Brazil.
    Oi, whose top shareholders include Portuguese telecom Pharol
 PHRA.LS , said in a securities filing that the company intends
to appeal the Portuguese judge's decision. 
    Under the plan, Oi secured approval from creditors to
refinance about 65 billion reais  ($17.27 billion) of debt, in
Latin America's largest ever debt restructuring.  urn:newsml:reuters.com:*:nL1N1OJ0JL  
($1 = 3.7631 reais)

 (Reporting by Ana Mano; Editing by Christian Plumb)
 ((ana.mano@thomsonreuters.com; Tel: +55-11-5644-7704; Mob:
+55-119-4470-4529; Reuters Messaging:
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