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General

Sawiris says Oi recovery plan 'not convincing'

Friday 21 October 2016 | 10:18 CET | News
Egyptian billionaire Naguib Sawiris believes that Oi's recovery plan is "not convincing" as, from an operational point of view, it does not include what needs to be done. In an interview for O Estado de Sao Paulo, he explained that the plan basically assumes debt reduction as the main solution, adding that his company is willing to engage with the current shareholders to convince them that his recovery plan will provide a solution for the company. He said that the plan foresees a reduction of operational costs, the sale of non-strategic assets and the redistribution of investments. Sawiris

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Categories: General
Companies: Oi
Countries: Brazil
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