From Market Savior to Power Struggle: PIMCO’s Bet on Brazil’s Oi Enters a New Political Era

After converting debt to equity and once holding ~40%, PIMCO is accused of shaping Oi’s board and management to favor creditor recovery over corporate stability Fight centers on Oi’s 27.2% stake in V.tal — Oi wants a cash auction, while a PIMCO-led creditor group seeks to take the asset via debt cancellation. Courts have seized PIMCO-linked notes tied to labor claims, Oi is suing for alleged abuse of control, and outcome may define limits of creditor influence in major restructurings By Jarrett Ba ...