Chilean incumbent Entel has acquired Nextel Peru from US-based NII Holdings for US$400m.
NII said the disposal was part of its strategy to focus on its larger markets, Mexico and Brazil. Previously the LatAm specialist stated it was also looking at…
Chilean incumbent Entel has acquired Nextel Peru from US-based NII Holdings for US$400m.
NII said the disposal was part of its strategy to focus on its larger markets, Mexico and Brazil. Previously the LatAm specialist stated it was also looking at options for its Argentine, Chilean and Peruvian units, and said it would sell the assets for the right price.
“The sale of Nextel Peru is an important step in the evolution of our business and aligns with our strategic goal of increasing value for stockholders through focused investments on our new next generation network deployments,” said Steve Shindler, NII’s chairman and interim CEO.
“The proceeds that we generate through this sale allow us to prioritise investments in our largest markets that offer the greatest opportunity for strong, long-term returns.”
The transaction is expected to close in the second half of 2013.
NII was advised by Deutsche Bank and Jones Day, while Entel was advised by Asset Chile and BNP Paribas.
NII is also looking at sale and leaseback transactions for up to 4,500 of its towers in Brazil and Mexico. It said it expects to secure deals for the sites this year.
Nextel Peru generated US$343m revenues last year. NII reported US$6.1bn in consolidated operating revenues and OIBDA of US$936m. Entel had revenues of US$3bn for 2012.
