An executive of Banco Itaú confirms the institution won?t accept equity in troubled A-band cellular carrier BCP in exchange for debt, as recently reported by major dailies. However, according to the same source the reports are wrong in claiming that Itaú is alone in this opposition to a debt-for-equity swap. At least one other creditor bank also rejects the offer, he says. Itaú has charged off all its loans to BCP but will continue trying to collect anyway.
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