Nextel Argentina, a unit of bankrupt US telecoms group NII Holdings, is set to be sold to PE firms Kingsley Capital and Optimum Capital for an undisclosed amount, according to a local press report.
The bidders, who could close a deal as early as next…
Nextel Argentina, a unit of bankrupt US telecoms group NII Holdings, is set to be sold to PE firms Kingsley Capital and Optimum Capital for an undisclosed amount, according to a local press report.
The bidders, who could close a deal as early as next month, are also reportedly negotiating the acquisition of 3G and 4G spectrum with the Argentinian government.
According to local daily El Cronista, Kingsley and Optimum would acquire the spectrum which new entrant Arlink secured in the country’s latest spectrum auction, held in October last year, since the challenger did not have sufficient funds to pay for the licenses.
Earlier today, Buenos Aires-based news outlet Convergencia Latina denied that a deal was imminent, citing unnamed sources.
NII Holdings, Kingsley and Optimum did not respond to a request for comment.
Last August, Fucata, a joint venture led by Argentinian media conglomerate Grupo Veintitres was looking to acquire Nextel Argentina before the airwaves sale took place, but a deal did not materialise as NII Holdings opted out of the auction due to its bankruptcy proceedings.
Fucata went on to acquire Nextel Chile, which sold to UK-based investment firm Novator at the end of January.
America Movil’s Claro leads the Argentinian telecoms market, followed by Telefonica’s Movistar, Telecom Italia’s Personal and Nextel Argentina.