Orascom extends deadline for Brazil's Oi alternative plan a third time
SAO PAULO Orascom TMT Investments Sarl has voluntarily extended for a third time the deadline for Brazilian phone carrier Oi SA to consider an alternative in-court reorganization plan, according to a securities filing on Friday.
Oi (OIBR4.SA) said in the filing the decision will allow management and shareholders to examine Orascom's suggestions for the reorganization. Oi said Orascom voluntarily sent a letter to the company extending the deadline to May 1.
(Reporting by Ana Mano; Editing by Lisa Shumaker)