Chilean Telco Enters Peru as Nextel Pulls Back

Chilean Telco Enters Peru as Nextel Pulls Back

Chile Peru M&A

NII Holdings has agreed to sell its Nextel del Peru unit to Chile's Empresa Nacional de Telecomunicaciones (Entel) for $400m cash, Entel says. Entel plans to reserve funds for the acquisition partly by reducing its dividend payout to 50% percent of profit, compared to levels of 80% in the past. The sale follows months of discussion and represents an expansion into new territory in LatAm for Entel. The move "bodes well for future growth for the company as the Peruvian telecom industry is less dev

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