US-based telco NII Holdings expects to sell 4,500 towers in Brazil and Mexico this summer, CEO Steve Shindler has said.
NII first announced that it was looking to sell the infrastructure ahead of its Q4 2012 results, when it revealed it was already…
US-based telco NII Holdings expects to sell 4,500 towers in Brazil and Mexico this summer, CEO Steve Shindler has said.
NII first announced that it was looking to sell the infrastructure ahead of its Q4 2012 results, when it revealed it was already evaluating a number of sale and leaseback offers. At the time the company said it expected to complete a sale by the end of 2013.
The planned disposal is part of a wider strategy by the LatAm-focused telco which led it to offload Nextel Peru to Chilean operator Entel for US$400m at the start of April. NII’s businesses in Argentina and Chile are also in the shop window as it looks to put all of its efforts into its core markets, Brazil and Mexico.
The proceeds from the disposals will be invested in NII’s next-generation network deployments in those two markets, which it believes will “offer the greatest opportunity for strong, long-term returns”.
Shindler, speaking to Bloomberg, also expressed support for the telecoms reforms going through the Mexican legislature, saying that it would create a better environment for his telco to compete in the marketplace.
In its full-year results for 2012 NII achieved revenues of US$6.1bn, but projects that 2013 will be more difficult with revenues in the range of US$5.7bn to US$5.9bn.
