1. Tele Norte Leste Participacoes SA, Brazil's biggest phone company, reduced debt and took advantage of record-low interest rates (Brazil's central bank reduced the benchmark lending rate for a 15th consecutive time to bolster growth).
2. Debt fell 20 percent to 8.8 billion reais in the quarter from a year earlier, lowering financial expenses by 53 percent to 160 million reais.
3. But it had higher costs to connect calls to other service providers.
‘Neither a borrower or a lender be’ – or something like that said Shakespeare perhaps?
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