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