Shares of NII Holdings (NASDAQ: NIHD) are up more than 40% mid-day on volume of 12.21 million, roughly three times the average 5-day volume, on word the mobile communication services provider has partnered with AINMT Holdings AB (“AINMT”), an international telecommunications company and parent of the Norwegian operator ice, to jointly own and operate Brazilian mobile telecommunications company Nextel Brazil. Per the agreement, AINMT will invest $50 million for a 30% stake in Nextel Holdings S.à r.l. (the “Company”), a wholly owned subsidiary of NII and owner of Nextel Brazil. AINMT has the option to invest an additional $150 million in the Company, which, if exercised, would result in a 60% controlling stake in the Company.
“We are excited to partner with AINMT as it continues to export its customer-centric and LTE-driven model to highly populated emerging markets around the globe. We believe that gaining access to their differentiated approach and data-driven strategy will allow Nextel Brazil to significantly expand both its growth and profitability,” NII CEO Steve Shindler stated in the news release.
To view the full press release, visit: http://nnw.fm/qP2e1
About NII Holdings, Inc.
NII Holdings, Inc., a publicly held company based in Reston, Virginia, is a provider of differentiated mobile communication services for businesses and high value consumers in Brazil. NII Holdings, operating under the Nextel brand, offers fully integrated wireless voice services, data services and wireless Internet access. Visit NII’s website at www.nii.com.
About NetworkNewsBreaks
NetworkNewsBreaks (NNB) provide a rapid summary of corporate news that caught the attention of NetworkNewsWire (NNW). NNB keeps you up-to-date on active US Public Companies complementary to NNW’s broader scope as a provider of news aggregation and syndication, enhanced press release services and a full array of social communication solutions. As a multifaceted financial news and distribution company with an extensive team of contributing journalists and writers, NNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. NNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
NetworkNewsWire (NNW)
New York, New York
www.networknewswire.com
212.418.1217 Office
Editor@NetworkNewsWire.com
