Oi shareholders vote to approve new board

Shareholders of Brazilian mobile phone operator Oi on Monday gave a nod of approval to new board chairman Eleazar de Carvalho and the rest of the slate of new board members proposed by the company.

The shareholders` meeting is a key step in sorting out the reorganized firm`s governance and formalising the 4 billion reais ($964 million) capital increase. It filed for bankruptcy protection in 2016 after buckling under 65 billion reais of debt.

($1 = 4.15 reais)

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