Egyptian entrepreneur Naguib Sawiris hopes to persuade the Brazilian government to accept his bailout offer for troubled operator Oi, with a trip to the country planned soon.

Speaking to Brazilian newspaper Folha de S.Paulo, Sawiris said he aims to turn around the company, currently operating under bankruptcy protection, in one year, and is now planning to meet with the government to get his plans approved.

In December, Sawiris proposed an investment of $250 million through The Sawiris Group, which controls Orascom Telecom Media & Technology.

The plan is to inject $1.25 billion into Oi, along with a group of bondholders and investment bank Moelis, of which $1 billion will come from a public share sale. The group will also take control of the Brazilian player.

Providing more details on his proposal in the interview, Sawiris said if the bid is successful, Oi, which has both fixed and mobile units, could merge with TIM Participacoes (a previously mooted deal).

However, Wall Street Journal reported in December that some shareholders were not in favour of Sawiris’ plan, and a different group of bondholders were looking to work on an alternative.

Oi filed for bankruptcy in June 2016 due to struggles with its debt burden, and it has also faced regulatory issues related to its fixed business, as well as its earlier merger with, and disentanglement from, Portugal Telecom.