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NII Holdings +14% on report of Nextel Brazil sale plans

Jun. 28, 2018 2:39 PM ETNII Holdings, Inc. (NIHD) StockNIHD, VIVBy: Jason Aycock, SA News Editor2 Comments
  • NII Holdings (NASDAQ:NIHD) has jumped 14.1% after a Reuters report that says the company's hired advisers to sell its Nextel operations in Brazil.
  • The company's hired Rothschild to help it unload a 70% stake.
  • Potential buyers include Telefonica Brasil (VIV +1.2%) and Access Industries, which holds another 30% stake (which might be included in a forced sale if Access doesn't buy it all).
  • Nextel Brazil has 3M subscribers but poor earnings.

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