The distressed asset investment firms that are Brazilian telecom Oi SA’s top shareholders will focus on improving the company’s mobile and broadband operations instead of a near-term sale of their stakes, two sources with knowledge of the matter said.
Brazil’s largest fixed-line telecoms carrier is expected to complete a 4 billion real ($1 billion) capital raise by year-end, and management will use proceeds to accelerate investments in broadband and mobile networks.
