Brazilian telecommunications firm Oi SA's chief executive has resigned, a spokeswoman for Oi's largest shareholder said on Friday, two weeks before crucial talks in Latin America's biggest-ever bankruptcy proceedings, Reuters reported. A spokeswoman for Portugal's Pharol SGPS SA, which owns about 27.5 percent of Oi's voting shares and is part of a controlling shareholder bloc, said it had been informed of Marco Schroeder's resignation. Telecoms regulator Anatel had threatened to intervene in the carrier if it changed management. However, a government source, who spoke on condition of anonymity, said on Friday that Schroeder's departure did not make intervention more likely. Oi is two weeks away from a crucial creditor vote on a proposal to restructure 65 billion reais ($20 billion) of debt, with creditors and shareholders fighting over vastly different proposals for Brazil's biggest fixed-line phone company.
