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Wireless

NII admits financial control problems

Thursday 18 May 2017 | 11:14 CET | News
NII Holdings, owner of Brazilian mobile operator Nextel, has admitted "material weakness" in its internal financial controls and announced the resignation of a member of its Corporate Governance and Nominating Committee. This follows the replacement of the CEO and president of Nextel at the end of April. NII said the problems with internal controls on financial reporting were due to a lack of "appropriate tone at the top", which meant management could override decisions by lower finance and control staff.

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Categories: Mobile & Wireless
Companies: Nextel
Countries: Brazil
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