0
Wireless

NII Holdings files for chapter 11

Tuesday 16 September 2014 | 07:42 CET | News
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

Thank you for visiting Telecompaper

Sign up below to get access to the rest of this article and all the telecom news you need.

  • Register free and gain access to even more articles from Telecompaper. Register here
  • Subscribe and get unlimited access to Telecompaper’s full coverage, with a customised choice of news, commentary, research and alerts.

Subscriptions

Already registered?



Categories: Mobile & Wireless
Companies: Nextel
Countries: Latin America
::: add a comment

Add comment

Please login or register to leave a comment.

We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the Telecompaper website, they in no way represent the opinion of Telecompaper.


Related

Nextel Brazil banks agree to waive covenants til June

Published 01 Mar 2017 16:46 CET | Brazil
Nextel Brazil has entered into amendments to its credit agreements with Banco do Brazil and Caixa Economica Federal. ...

Nextel Argentina buys 5 wireless operators for USD 140 mln

Published 24 Jun 2016 13:51 CET | Argentina
Nextel Argentina has invested USD 140 million to acquire five local wireless operators and increase its existing spectrum ...

Nextel adds 27,000 subscribers in Q3 to reach 4.5 mln

Published 05 Nov 2015 16:25 CET | Latin America
NII Holdings, which operates under the Nextel brand in Latin America, reported 27,000 net subscriber additions for the third ...

US court approves NII Holdings' bankruptcy plan

Published 22 Jun 2015 09:06 CET | Latin America
Latin American mobile operator NII Holdings has announced that the US Bankruptcy Court for the Southern District of New York has ...

NII Holdings mulling Nextel Argentina sale - report

Published 08 Jun 2015 14:24 CET | Argentina
NII Holdings, which operates under the Nextel brand in Latin America, is in talks to sell its Argentine unit to concentrate on ...

Nextel adds 165,000 subscribers in Q1 to reach 9.3 mln

Published 07 May 2015 14:59 CET | Latin America
NII Holdings, which operates under the Nextel brand in Latin America, reported a 2 percent rise in subscriber numbers in the ...

NIi Holdings reaches debt restructuring agreement

Published 06 Mar 2015 14:43 CET | Latin America
Latin American mobile operator NII Holdings announced that the mobile operator reached an agreement with the holders of over 70 ...

AT&T to buy Nextel Mexico for USD 1.875 bln

Published 26 Jan 2015 12:53 CET | Mexico
AT&T is continuing its expansion to Mexico with an agreement to buy Nextel Mexico for USD 1.875 billion. The deal builds on the ...

NII Holdings agrees debt-for-equity swap

Published 25 Nov 2014 09:12 CET | Latin America
NII Holdings has reached a restructuring agreement with its major creditors. After filing for chapter 11 protection in the ...

Nextel Brasil up for sale, could offer 4G - report

Published 20 Oct 2014 09:14 CET | Brazil
Nextel Brasil is facing financial difficulties and is up for sale, reports Folha de Sao Paulo. Nextel has denied that it is up ...

Nextel Argentina seeks technology options to improve service

Published 22 Sep 2014 16:49 CET | Argentina
Nextel Argentina is considering technology options to improve its service offering in the local market, Telesemana reports. ...

Nextel Argentina affirms commitment with local subs

Published 19 Sep 2014 17:05 CET | Argentina
Nextel Argentina announced that the decision of its parent company NII Holdings to pursue formal proceedings to restructure its ...

Nextel de Mexico affirms commitment to customers

Published 17 Sep 2014 15:06 CET | Mexico
Nextel de Mexico has issued a statement reaffirming its long-term commitment to users, by providing high-quality mobile services. ...

NII Holdings will not sell Nextel Brasil – report

Published 17 Sep 2014 12:31 CET | Brazil
NII Holdings, which owns the Nextel brand in Latin America, will hold on to its Brazilian unit even after filing for Chapter 11 ...

NII Holdings aims to stabilise Mexican operation in 2015

Published 19 Aug 2014 16:28 CET | Mexico
NII Holdings expects to stabilise the operation of its Nextel Mexico subsidiary during 2015, Teletime reports. The plans to ...

International consortium acquires Nextel Chile

Published 18 Aug 2014 18:48 CET | Chile
An international consortium of Argentine, UK and US investors has acquired NII Holdings' Chilean subsidiary Nextel Chile. The ...

NII Holdings misses interest payment

Published 18 Aug 2014 09:10 CET | Latin America
NII Holdings announced that is has elected not to pay USD 118.8 million in interest due 15 August on senior notes issued by its ...

NII Holdings may file for bankruptcy

Published 12 Aug 2014 08:58 CET | Latin America
Latin American mobile operator NII Holdings said it expects to file for bankruptcy, after its weak financial performance led it ...