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Brazil's Anatel delays decision on Oi request over fines

BRASILIA, Oct 5 (Reuters) - Brazil's telecommunications industry watchdog Anatel delayed on Wednesday a decision on a new request by debt-laden phone carrier Oi SA to swap regulatory fines for new investments, dealing a blow to the nation's largest bankruptcy protection case to date.

A member of the watchdog's board asked for additional time to analyze the request, Anatel said in a statement. Oi has sought to exchange at least 11 billion reais ($3.5 billion) of fines into wireless phone network investments, as a way to facilitate exiting bankruptcy protection.

The exact value of the fines was not unveiled in the statement.

($1 = 3.1526 reais) (Reporting by Leonardo Goy; Writing by Guillermo Parra-Bernal; Editing by Bill Trott)