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NII Holdings may file for bankruptcy

Tuesday 12 August 2014 | 08:58 CET | News
Latin American mobile operator NII Holdings said it expects to file for bankruptcy, after its weak financial performance led it to breach a number of covenants with lenders. It plans to file for Chapter 11 bankruptcy protection in the US, after which it can consider various strategic options and a possible restructuring of its debt with noteholders,  In the second quarter, the group reported a net loss of USD 629 million on revenues of USD 969 million, down 23 percent year-on-year. NII spent USD 123 million on capital equipment in the quarter. After a cash outflow of USD 919 million in the

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Categories: Mobile & Wireless
Companies: Nextel / NII Holdings
Countries: Latin America
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