Monday, August 18, 2014

"NII Holdings Strikes Deal to Sell Chilean Nextel Subsidiary" $NIHD

WSJ:

NII Holdings Inc. has an agreement to sell its Chilean subsidiary, according to financial disclosures, but negotiations continue with bondholders as the Latin American wireless provider attempts to restructure its debt load.

Grupo Veintitr├ęs, an Argentine media company; Optimum Advisors, a U.S. private-equity firm; and ISM Capital, a London-based investment firm that focuses on emerging markets, have formed a joint venture to acquire the stock of Nextel Chile S.A., NII said Monday in documents filed with the U.S. Securities and Exchange Commission.

NII didn't include a price in the financial disclosure and didn't respond to a request for comment Monday...

According to NII's recent financial statement, Nextel Chile posted $24.5 million in losses on $16.7 million in revenue during the quarter ended June 30. During the same period in 2013, the subsidiary lost $39.9 million on $14.6 million in revenue. NII was unable to precisely value this asset in its most recent financial disclosure.
Wonder what this sold for?

The 10% capco bonds rallied significantly from last week's 15-17 to trade around 25-27 today.

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