Nextel Brasil CEO Francisco Valim has denied his company is on the block, saying that companies are reviewing the books with regard to possible infrastructure sharing. Last year, parent company NII Holdings sold Nextel Mexico to AT&T but saw its agreed sale of Nextel Argentina meet regulatory challenges.
Nextel Brasil CEO Francisco Valim has denied his company is on the block. Folha de São Paulo stated that the price tag is US$300m plus debt of US$600m. Possible buyers include Claro, TIM and overseas investment funds. Valim said the companies are reviewing the books with regard to possible infrastructure sharing.
In October, it was reported that parent company NII Holdings (NASDAQ:NIHD) was close to appointing an M&A adviser for the asset.
In 2015, NII Holdings sold Nextel Mexico to AT&T, but its agreed sale of Nextel Argentina to Grupo Clarín met politically motivated regulatory opposition. Jones Day acted as adviser on both deals. Rothschild provided financial advice on the Mexican sale, while NII Holdings used its in-house team in Argentina.
NII Holdings, which exited bankuptcy in June 2015, has seen its share price plunge by 33.5% in the last six months.