Brazil's Oi sees cash burn falling in coming months -CEO
SAO PAULO Aug 13 (Reuters) - Brazilian telecommunications company Oi SA expects cash burn to fall "considerably" in the second half of this year and the company should soon generate free cash flow, Chief Executive Bayard Gontijo said on a Thursday conference call.
Earlier on Thursday, Oi posted second-quarter net income of 671 million reais ($192.8 million), reversing a loss from the year-earlier period, after booking a one-time gain of 1.113 billion reais from the sale of its PT Portugal unit to European group Altice SA. (Reporting by Brad Haynes and Luciana Bruno Editing by W Simon)
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