America Movil closes USD905m Nextel Brazil takeover

19 Dec 2019

Mexico City-based telecoms giant America Movil (AM) has announced that it has successfully closed the acquisition of 100% of Nextel Telecomunicacoes (Nextel Brazil) from NII Holdings (70%) and AI Brazil Holdings (30%). The purchase price was USD905 million on a cash free/debt free basis.

AM – which already operates in Brazil via its Claro Brasil subsidiary – notes that the takeover will strengthen its mobile network capacity, spectrum portfolio, subscriber base, coverage and quality, particularly in Sao Paulo and Rio de Janeiro.

As previously reported by TeleGeography’s CommsUpdate, the deal was agreed in March 2019 and approved by the Administrative Council for Economic Defence (Conselho Administrativo de Defesa Economica, CADE) in September.