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Oi Executives Say They Won’t Bow to Pressure to Raise Capital

  • Company reaffirms goal of selling Unitel by end of the year
  • Debt sale will depend on when Oi is able to sell its assets
Pedestrians pass in front of an Oi store in Brasilia, Brazil.

Pedestrians pass in front of an Oi store in Brasilia, Brazil.

Photographer: Gustavo Gomes/Bloomberg

Oi SA’s top executives have a message for investors and analysts pushing the company to sell more assets or take on more debt: Back off.

The Brazilian phone company -- now in the final stages of a $19 billion debt restructuring -- has various options to raise capital but won’t make any decisions under pressure, Chief Operational Officer Rodrigo Abreu and Chief Executive Officer Eurico Teles said in an interview.