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Nextel sells Brazil, Mexico towers to American Tower
2013-08-09 17:43:00| Telecompaper Headlines
(Telecompaper) NII Holdings, the mobile operator using the Nextel brand in Latin America, has agreed to sell approximately 2,790 towers in Brazil and 1,666 towers in Mexico to American Tower in two transactions with USD 413 million and USD 398 million, respectively. Both Nextel Brazil and Nextel Mexico agreed to leaseback the towers from American Tower for a minimum twelve-year initial lease term and have the option to extend the lease for additional renewal periods. NII International Telecom, a subsidiary of NII based in Luxembourg, has agreed to provide certain credit support with respect to the obligations of Nextel Brazil. The transactions are subject to regulatory approvals, and the initial closings are expected to be completed in the fourth quarter. The initial closings are expected to include about 4,000 towers and will be followed by subsequent closings as certain closing requirements relating to the remaining towers are satisfied. NII's service coverage and new deployment plans will not be affected by this transaction.
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mexico
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Category:Telecommunications