NII stockholders approve sale of Nextel Brazil

28 Jun 2019

In a filing with the US Securities and Exchange Commission (SEC) dated 27 June 2019, NII Holdings has confirmed that its stockholders have voted overwhelmingly in favour of the previously announced sale of Nextel Brazil, to Mexico City-based America Movil (AM). In an additional vote, the stockholders approved the ‘liquidation and dissolution’ of NII Holdings. TeleGeography notes that Nextel Brazil is the last remaining NII subsidiary, following the sales of its cellular businesses in Peru, Chile, Mexico and Argentina between 2013 and 2016.

In March 2019 AM entered into an agreement to acquire 100% of Nextel Brazil from its co-owners, NII Holdings (70%) and AI Brazil Holdings (30%). The completion of the acquisition remains subject to certain customary closing conditions, including regulatory approval from the National Telecommunications Agency (Agencia Nacional de Telecomunicacoes, Anatel) and the Administrative Council for Economic Defence (Conselho Administrativo de Defesa Economica, CADE).

Brazil, America Movil (AM), Claro-nxt (formerly Nextel Telecomunicacoes), NII Holdings