Brookfield joining group of Oi bondholders: Reuters

Canada’s Brookfield Asset Management is joining a group of Oi SA‘s bondholders being advised by Moelis & Co as the Brazilian telecommunications company restructures, Bloomberg reported on Wednesday citing sources.

Brookfield, Canada’s largest alternative asset manager, joined the steering committee of the group last week, Bloomberg reported.

Oi sought court protection from creditors last June on about 65 billion reais (US$20.55 billion) in Brazil’s biggest-ever bankruptcy filing.

Brookfield and Oi were not immediately available for comment.

(Reporting by Ahmed Farhatha in Bengaluru)

Photo courtesy of Reuters/Sergio Moraes