August 10, 2017 / 2:25 PM / a year ago

Brazil's Oi says capital hike may lift investment by 40 pct

SAO PAULO, Aug 10 (Reuters) - Oi SA, Brazil’s biggest fixed-line phone carrier, could boost annual capital spending by about 40 percent if it goes ahead with a capital increase of 8 billion reais, Chief Executive Marco Schroeder said on Thursday.

Schroeder told analysts on an earnings call that talks with creditors regarding a potential capital increase were ongoing, but they had not yet reached an agreement.

He said capital spending could rise to 7 billion reais ($2.2 billion) from 5 billion reais currently if the proposed capital increase happens.

Late on Wednesday, Oi posted a larger-than-expected loss as it closed currency-hedging positions.

$1 = 3.157 reais Reporting by Alberto Alerigi Jr. and Brad Haynes; Editing by Bernadette Baum

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