“Despite the unquestionable success of the first judicial reorganization, which, by changing its strategic plan of action, with a new focus of operations aimed at fiber optic services and including the transfer of part of its business to other investors, allowed the reduction substantial part of its total indebtedness, the company’s capital structure remains unsustainable. There are approximately R$ 29 billion in financial debts alone”, said the operator’s lawyers.
As the Valor Investe website pointed out, the company had been negotiating the restructuring of its debt, but was unable to reach a final agreement with its main financial creditors. Therefore, Oi filed this request to protect once morest charges.
After ordering, OI shares recorded a sharp drop this Thursday (2). The company’s ordinary shares (ON, with the right to vote at meetings) fell 30.51% on the stock exchange, being quoted at R$ 1.64. THE OIBR3 reached a low of R$ 1.62.
Preferred shares, on the other hand, devalued by 27.56%, at the price of R$ 3.68. The operator issued a statement in which it says that the company continues to operate normally and that the request for injunctive relief made to Justice does not affect suppliers.
