NII completes Nextel sale

20 Aug 2013

US-based NII Holdings has announced that it has completed the sale of its Peruvian wireless arm to Chilean telco Entel for an aggregate value of USD410.6 million. The sale of Nextel del Peru is part of NII’s strategy to refocus its capital and resources primarily in its two largest markets, Mexico and Brazil. For its part, Entel has been looking to create new revenue streams through mergers and acquisitions in the region following the failed takeover of triple-play provider Grupo GTD in its domestic market. Entel currently has presence in the Peruvian market through its wholesale and corporate unit, Americatel. CEO of NII, Steve Shindler commented on the deal: ‘The sale of Nextel Peru is part of our ongoing strategy to increase stockholder value by allowing us to focus and align our financial and operational resources where we can maximize our return on invested capital … This sale also provides additional liquidity to support our investments in the deployment of our next generation networks.’

Peru, Entel Chile, Entel Peru, NII Holdings