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SAO PAULO: Brazilian telecommunications company Oi SA announced late Friday that it has decided to postpone the release of its 2022 financial statements to May 22, after the expected presentation of its judicial restructuring plan.

The company, which entered bankruptcy protection for the second time in March just months after similar proceedings, said the delay was largely due to ongoing negotiations with a group of financial creditors.

However, Oi has released preliminary figures showing consolidated net revenue for the fourth quarter of last year was R$2.62 billion ($518.96 million).

The Brazilian business’ ordinary earnings before interest, taxes, depreciation and amortization (EBITDA) for the period amounted to R$320 million.

The company’s cash position at the end of 2022 was R$3.22 billion, Oi added.

In a separate securities filing, the carrier entered into bond purchase agreements with some financial creditors to establish the terms for court-approved debtors to raise $275 million in equity capital. said to have signed

($1 = 5.0486 Real) Brazil’s Oi postpones release of 2022 financial statements

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