RESTON, Va., Jan. 28, 2016 /PRNewswire/ -- NII Holdings, Inc.
(NASDAQ: NIHD) today announced it has completed the previously
announced sale of its Argentine operations transferring the
remaining 51% of its ownership interest to subsidiaries of
Grupo Clarin. In connection
with the sale, NII previously received $178
million of aggregate net proceeds, including $6 million of cash placed in escrow to secure
specified indemnity obligations.
"This transaction is consistent with our strategy to concentrate
our resources on our operations in Brazil and improve our liquidity position,"
said Steve Shindler, NII's chief
executive officer. "We are proud of the success that our team
in Argentina has achieved as a
part of our company for the past 18 years, and we are grateful to
all of our employees there for their dedication and service."
About NII Holdings, Inc.
NII Holdings, Inc., a publicly held company based in
Reston, VA, offers differentiated
mobile communications service including fully integrated wireless
voice and data services under the Nextel brand in Brazil. Visit NII's website
at www.nii.com.
Nextel, the Nextel logo and Nextel Direct Connect are
trademarks and/or service marks of Nextel Communications,
Inc.
Media Contacts:
NII Holdings, Inc.
1875 Explorer Street, Suite
800
Reston, VA. 20190
(703) 390-5100
www.nii.com
Investor and Media Relations: Tahmin Clarke
(703) 390-7174
tahmin.clarke@nii.com
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SOURCE NII Holdings, Inc.