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Anatel may intervene in the case of Oi (OIBR3) and remove the board; understand

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Anatel set up a working group to monitor Oi’s operational and economic-financial conditions. (Image: Gustavo Gomes/Bloomberg)

The National Telecommunications Agency (Anatel) can intervene directly in the case of Hey (OIBR3; OIBR4) and remove the entire board of the company to take charge.

According to Estadãoa member of the agency’s top management pointed out, on a scale of zero to ten, that the chances of this intervention happening is six.

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the president of HeyRodrigo de Abreu, should be called in the coming days to provide clarification.

On Thursday (2), the Hey sent this Thursday (2) to Securities and Exchange Commission (CVM) a material fact informing about the request for urgent precautionary relief.

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The purpose of the measure is to preemptively protect the telecommunications company from creditors.

The request, in secrecy of justice, requests the suspension of the enforceability of certain obligations of the Hey, aiming to protect your cash. In addition, it allows the continuity of the company’s negotiations with its creditors, with whom it has approximately R$ 29 billion in debtincluding banks and bondholders.

A Anatel claims to want to understand what the board of Hey intends with the request for “urgent precautionary protection” before taking any decision.

For this reason, the agency created a working group to monitor Oi’s operational and economic-financial conditions.

The group must obtain information about the operating performance of the operator and whether it presents any risks to the continuity of the service, in addition to the rights of users, quality of provision and maintenance of the conditions of grant.

Source: Moneytimes

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