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Wednesday, 19 October 2016

Naguib Sawiris looking at investment opportunities in Brazil, Argentina

Naguib looking at investment opportunities in Brazil, Argentina. Naguib Sawiris is ready to invest in Brazil’s Oi if creditors and shareholders of the embattled telecom — now in bankruptcy protection — agree to “a recovery plan his team is working on with a group of the firm’s major bondholders,” the Wall Street Journal (paywall) reports. Oi, which a Brazilian analyst says faces “giant” challenges, would be Naguib’s second investment in Brazil alongside a real estate holding — and it may not be his last: The Journal says he’s “ready to make other investments in Brazil and Argentina, in the mining and tourism sectors.”

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