Oi Will Reverse Cash-Burn Problem in Third Quarter, CEO Says

Updated on
  • Phone operator had 41% less cash and equivalents last quarter
  • Bankrupt carrier also showing operational improvements

Oi SA is taking steps to improve operations and reverse a cash drain that’s plagued the bankrupt phone operator and saddled investors with losses amid Brazil’s biggest-ever bankruptcy.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.