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AT&T buying Nextel Mexico from NII Holdings
2015-01-26 14:01:21| Telecom - Topix.net
The deal will give AT&T Inc. companies that operate under the name Nextel Mexico and hold all of the wireless properties in Mexico held by NII Holdings Inc. That includes spectrum licenses, network assets, retail stores and about 3 million subscribers. Nextel Mexico's network covers approximately 76 million people.
Tags: mexico
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NII Holdings agrees debt-for-equity swap
2014-11-25 09:12:00| Telecompaper Headlines
(Telecompaper) NII Holdings has reached a restructuring agreement with its major creditors. After filing for chapter 11 protection in the September, the mobile operator and twelve of its wholly-owned subsidiaries have now reached an agreement with their major stakeholders, including their two largest creditors and the official committee of unsecured creditors. The reorganization plan will strengthen the company's balance sheet by converting USD 4.35 billion of unsecured notes into equity interests in the reorganized company; enhance the company's liquidity by providing USD 500 million of new capital through a fully backstopped USD 250 million rights offering available to holders of the company's senior notes and an additional USD 250 million of exit financing in the form of debt; and implement a global settlement of all claims related to certain complex intercompany and inter-creditor disputes. CEO Steve Shindler said the plan provides "a path for the company to emerge from bankruptcy in a healthy financial position to effectively compete in the wireless marketplace". The plan remains subject to court approval before its implementation.
Tags: holdings
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NII Holdings, creditors reach restructuring deal
2014-11-25 01:00:00| Total Telecom industry news
LatAm-focused telco agrees debt-for-equity swap, $500 million capital increase.
Nextel carrier NII files for bankruptcy protection as debt soars
2014-09-16 08:47:12| Wireless - Topix.net
NII Holdings Inc, the parent of Nextel operators in Latin America, filed for U.S. bankruptcy protection on Monday after struggling for years with debt, fierce competition in Brazil and Mexico, and a dispute with a U.S. hedge fund. The company filed a voluntary petition for so-called Chapter 11 in U.S. Bankruptcy Court in New York, according to a filing.
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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.
Tags: files
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