Oi! Got a distressed network for sale? Naguib Sawiris is set to travel to Brazil in two weeks’ time to “persuade the government his bid [to acquire the telecommunications company] is the best option to rescue Oi SA,” Reuters reports Sawiris told Brazilian newspaper Folha de S.Paulo. The Brazilian telecom company had filed for bankruptcy protection for USD 19 bn in debt last June after failing to reach an agreement with creditors. Sawiris, who had begun negotiations to acquire the company before it filed for bankruptcy protection, said he will turn the company around in one year and plans to merge the restructured Oi with one of Brazil’s largest wireless carriers.

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