Oi Creditors Split Off as Bankruptcy Fights Deepen
- Shuffle unites Griffin’s Citadel with Brodsky’s Aurelius
- Bondholders tussle over status of non-Telemar securities
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A group of bondholders negotiating with bankrupt Oi SA has fractured, complicating efforts to ease the Brazilian phone giant’s $19 billion debt burden.
The split includes Ken Griffin’s Citadel hedge fund firm, which joined a group that already counts Mark Brodsky’s Aurelius Capital Management among its members, said the people, who asked not to be identified because the matter is private. Aurelius had been trying to form a separate faction and talks have been held with restructuring advisers including Brasil Plural SA Banco Multiplo, the people said.