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Nov. 3, 2017 4:14 PM ET|About: China Telecom Corporation ... (CHA)|By: Jason Aycock, SA News Editor
China Telecom (CHA -0.9%) may invest up to 20B reais -- about $6B -- to take a majority stake in bankrupt Brazilian carrier Oi (NYSE:OIBR), Reuters reports.
That would only come after disputes with creditors are settled. Oi, which has 65B reais in debt (about $20B), has been negotiating with two major groups of creditors.
A creditors assembly on Nov. 10 is set to settle a restructuring plan.
China Telecom (CHA -0.9%) may invest up to 20B reais -- about $6B -- to take a majority stake in bankrupt Brazilian carrier Oi (NYSE:OIBR), Reuters reports.
That would only come after disputes with creditors are settled. Oi, which has 65B reais in debt (about $20B), has been negotiating with two major groups of creditors.
A creditors assembly on Nov. 10 is set to settle a restructuring plan.