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NII Holdings files for chapter 11

2014-09-16 07:42:00| Telecompaper Headlines

(Telecompaper) NII Holdings has filed for chapter 11 protection from creditors in the US. Signaled last month already as an option, the chapter 11 proceedings will give NII time to restructure its debt improve its liquidity, while continuing operations. NII, which operates under the name Nextel, has been in discussions with its major stakeholders over the last several months and said it's optimistic that those discussions will lead to a debt restructuring plan and reorganization. The company's operating subsidiaries in Brazil, Mexico and Argentina are not part of the US bankruptcy proceedings and will continue to operate on a "business as usual" basis. 

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