US-based NII Holdings and Scandinavian telecoms group AINMT Holdings have announced that they have entered into an agreement to jointly own and operate Brazilian mobile provider Nextel Brasil. Initially, and subject to certain conditions, AINMT will invest USD50 million for a 30% stake in Nextel Holdings (a wholly-owned subsidiary of NII, which owns Nextel Brasil). Going forward, AINMT will have the option to invest an additional USD150 million in the company by 15 November 2017. If the option is exercised, AINMT’s total USD200 million new equity investment would result in a 60% controlling stake in the Brazilian company. If AINMT exercises this option, NII expects to retain a 40% stake in the company.
AINMT CEO JD Fouchard commented: ‘Nextel Brasil offers ideal conditions for AINMT to implement its successful operating model. The spectrum holdings at multiple frequencies and the 2.9 million 3G/LTE subscribers Nextel already has in Brazil provide a solid foundation of assets on which to build, expanding the LTE network footprint and profitably growing the subscriber base … We are always striving to improve and make a positive difference to the lives of our customers and the economic well-being of the communities we serve.’
TeleGeography notes that AINMT’s Scandinavian subsidiaries include Ice.net, Norway’s third largest wireless operator by subscribers, and Net1, which offers wireless broadband connectivity in both Sweden and Denmark. In Asia, meanwhile, the company controls 450MHz operators Broadband Everywhere in the Philippines and PT Sampoerna Telekomunikasi Indonesia (STI) in Indonesia.