Pimco Sells Stake in Troubled Brazil Telecom Operator Oi
Oi SA telephone booths in Brasilia.
Photographer: Gustavo Gomes/BloombergPacific Investment Management Company sold its entire stake in Oi SA amid a protracted debacle involving the troubled Brazilian telecom operator its creditors.
Funds managed and advised by the investment firm sold all 64,811,440 common shares they still held at Oi, representing 19.73% of the company’s total capital, according to a letter from Pimco released by Oi late on Tuesday.