Elliott Said in Talks for $3 Billion Investment in Brazil’s Oi

(Bloomberg) Elliott Management Corp., the hedge fund company led by billionaire Paul Singer, is in talks to invest as much as 10 billion reais ($3 billion) in Oi SA, the Brazilian phone company that filed for bankruptcy protection, according to two people with direct knowledge of the matter.

The funds would be earmarked for debt repayment and investment, said the people, who asked not to be named because the matter is private. The aim is to keep the company intact while reducing its $20 billion debt, they said.

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