Ice Group seeks extension for Nextel Brasil stake hike

10 Nov 2017

Scandinavian telecoms holding company Ice Group (formerly AINMT Holdings) has requested an extension to exercise its option to increase its ownership in Nextel Holdings, the company that indirectly owns Nextel Brasil. The original deadline to exercise the option was 15 November 2017, and the two parties have started discussing the terms of an extension. If the USD150 million option is exercised, AINMT will increase its stake in the Brazilian company from 30% to 60%. As previously reported by TeleGeography’s CommsUpdate, in July 2017 AINMT Holdings successfully closed its USD50 million acquisition of an initial 30% stake in Nextel.

In related news, Nextel Brasil has reported operating revenues of USD205 million for the three months ended 30 September 2017, alongside a third quarter operating loss of USD83 million. The cellco ended the third quarter with 2.85 million 3G/4G subscribers and 450,000 iDEN subscribers; the latter network will be deactivated on 31 March 2018.

Brazil, Claro-nxt (formerly Nextel Telecomunicacoes), Ice Group (formerly AINMT)