NII Holding, the parent company of mobile operator Nextel Brasil, has hired Rothschild to sell its 70 percent stake in Nextel, Reuters reported, citing sources with knowledge of the matter. Rothschild has yet to set dates for delivery of bids and potential bidders. Telefonica Brasil and Access Industries habe a 30 percent stake in the operator. Nextel has 3 million subscribers, but EBITDA is close to zero.
NII has less urgency to sell now than a year ago, according to one of the sources, after concluding a restructuring of BRL 2.3 billion in debt. The Brazilian operator could attract the interest of local rivals interested in its spectrum rights, which could be used to improve service and reduce investments.
