Who’s Next? Chilean cellco changes hands for second time in less than six months

28 Jan 2015

Chile’s number four mobile operator Nextel Chile has changed hands for the second time in less than six months, having been acquired by UK-based investment fund Novator for an undisclosed amount. Wayerless writes that Novator has appointed Chris Bannister as the cellco’s new CEO, whilst Stanislas Pena will take on the role of the company’s president. The news outlet added that it had received unconfirmed reports that the operator would shortly be changing its name.

According to TeleGeography’s GlobalComms Database, Nextel Chile was sold by US-based NII Holdings in August 2014 to Uruguay-registered Fucata, a joint venture of Argentinian media company Grupo Veintitres, private equity firm Optimum Advisers and London-based investment group ISM Capital. NII had decided to sell off the company as part of a wider strategy to focus its efforts on its most lucrative subsidiaries, in Mexico and Brazil. The group continues to struggle, however, and CommsUpdate reported yesterday that NII has agreed to unload its Mexican unit to AT&T Inc. for USD1.875 billion.

Chile, WOM