Brazil’s Bankrupt Oi Fined for Selling Assets Without Approval

The company's problems continue as rumors of a possible government intervention were reinforced by statements made by Communications Minister Gilberto Kassab.

By Lise Alves, Senior Contributing Reporter

SÃO PAULO, BRAZIL – Telecommunication regulator in Brazil, ANATEL, announced on Thursday it was applying a R$11,500 fine on telephone operator, Oi, for the sale of the company’s reversible assets without prior approval of the entity.

The fine is just one of the latest troubles faced by the operator, that filed for a judicial recovery in June of 2016, with debts totaling over R$65 billion.

Rumors of a possible government intervention in the company were reinforced by statements made by Communications Minister Gilberto Kassab on Thursday.

“As time passes, it . . .

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