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Lots of interesting items going on around the world this week: … [visit site to read more]

The slightly confusing saga of Brazilian operator Oi continues. It is now seeking a huge sum of money in emergency funding.

In other words, the judicial process involving the recovery plan of Brazilian service provider Oi, which seemed to be over in December, may be far from finished.

Now Oi plans to seek emergency funding of at least 4 billion reais (about US$805.3 million) as well as to renegotiate debts.

The company’s board approved the plan last Friday. We may have to wait for more precise details of the measures Oi and its subsidiaries will adopt in order to strengthen its capital structure. However, the emergency funding will, one assumes, support the company while it carries out some of the measures provided for in the plan, including a capital increase and divestment of assets.

It has already sold a number of assets but, according to local news source TeleTime, it may now sell almost everything else, including its corporate arm, Oi Solucoes and its stake in fibre-to-the-home (FTTH) wholesale unit V.tal.

Quoted in the same news source, the company apparently says that the plan reflects the negotiations held to date with its main creditors and other stakeholders for debt restructuring. It adds: “We continue negotiations with financial creditors and other unsecured creditors regarding the specific terms and conditions.”

Oi has been under judicial protection since mid-March this year.  Its judicial reorganization plan was granted by Rio de Janeiro’s 7th Corporate Court. However, as we reported at the time, the company’s board also had a 60-day deadline to submit to regulator Anatel various details of cash flow, sources of funds and financial forecasts and, notably, “justification for the differences between what was realized and what was foreseen”.

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.

A few interesting news items before weeks’ end: … [visit site to read more]

This Industry Viewpoint was authored by Anthony Goonetilleke, Group President of Technology & Head of Strategy, Amdocs

The past few years have shown us that humans can adapt to ever-changing conditions, even with the disruption to schools and workplaces, through ingenuity and resilience. Connectivity was one of the driving forces behind this transition, becoming integral in linking our homes with work and school. In some cases, it allows loved ones to share precious moments from behind a camera. … [visit site to read more]