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Clarin buys 49% stake in Nextel Argentina for USD 178 mln

2015-09-15 08:54:00| Telecompaper Headlines

(Telecompaper) Argentinian media conglomerate Clarin has reached a deal with NII Holdings to acquire a 49 percent stake in Nextel Argentina, with an option to acquire the remaining 51 percent pending regulatory approvals. Clarin said the total amount paid for the stake in Argentina's fourth largest mobile operator was USD 178 million, of which USD 159 million was paid up front, with the remaining amount due within 30 days. NII said the net proceeds received from the transaction will be used to provide additional liquidity to support its operations in Brazil.

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