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NII Holdings Strikes Deal to Sell Chilean Nextel Subsidiary

18 August 2014

(WSJ) NII Holdings Inc. has reached an agreement with Argentinian media company Grupo Veintitrés, US private equity firm Optimum Advisors and London-based ISM capital and to sell its Chilean subsidiary, Nextel.

NII Holdings Inc. has an agreement to sell its Chilean subsidiary, according to financial disclosures, but negotiations continue with bondholders as the Latin American wireless provider attempts to restructure its debt load.

Grupo Veintitrés, an Argentine media company; Optimum Advisors, a U.S. private-equity firm; and ISM Capital, a London-based investment firm that focuses on emerging markets, have formed a joint venture to acquire the stock of Nextel Chile S.A., NII said Monday in documents filed with the U.S. Securities and Exchange Commission.

Read more at WSJ.