Executive hints at Nextel Argentina sale

8 Jun 2015

NII Holdings has given its strongest hint yet that it is planning to sell its Nextel Argentina unit, as it steps up its investment in Brazil. Nextel Brazil company president Gokul Hemmady told Reuters: ‘We have no intention of selling our operation in Brazil. We will have left five countries, when we sell Argentina, to stay in one … Having said that, there is always a price for every sale.’

As previously reported by TeleGeography’s CommsUpdate, in February this year NII reportedly agreed to sell Nextel Argentina to private equity duo Kingsley Capital and Optimum Capital for an undisclosed fee, although no confirmation was forthcoming. The latter company was previously involved in August 2014’s consortium-led buyout of Nextel Chile, which was subsequently sold on to UK-based investment fund Novator in January 2015.

Since reorganising its Nextel International business as NII Holdings in 2001, the group has offloaded its businesses in the Philippines (Nextel Philippines, 2002), Peru (Nextel Peru, 2013), Chile (Nextel Chile, 2014) and Mexico (Nextel Mexico, 2015).

Argentina, FiberCorp (formerly Nextel Argentina), NII Holdings