Oi Dividend Cut Only Dents $12 Billion Debt

Oi Dividend Cut Only Dents $12 Billion Debt

Paulo Fridman/Bloomberg

Patrons speak to a representative at an Oi mobile phone store in the Eldorado Mall in Sao Paulo, Brazil, in this Dec., 2009. file photo. Rio de Janeiro-based Oi had net debt of 27.5 billion reais ($12.1 billion) at the end of March and is investing 6 billion reais this year, the most among peers, to compensate for a network that gets the most consumer complaints.