LatinNews Daily - 24 July 2017

Science, Technology & Innovation Minister Gilberto Kassab has announced that the government should prepare to take over the re-structuring of telecommunications firm Oi, which filed for bankruptcy a year ago. “Hundreds of cities depend on Oi’s services and the government cannot allow any to be deprived of its services…if we are not preparing [for the takeover] we are procrastinating”, Kassab told local news site G1. The government has drafted a decree to help Oi pay off its R$11bn (US$3.5bn) debt with the federal telecoms regulator, Anatel, more quickly. But Oi also needs to agree a debt repayment plan with other creditors during talks scheduled for September.

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