March 19, 2019 |
Mexico's América Móvil has agreed to buy Nextel Telecomunicações in Brazil from NII Holdings and AI Brazil Holdings for $905m.
The acquisition is still subject to approval from Brazil's telecommunications regulator Anatel and the anti-trust agency CADE, América Móvil said in a press release.
América Móvil already operates the Claro mobile phone brand in Brazil.
NII put up for sale its 70% stake in Nextel Brazil in August 2018.
NII's board of directors has unanimously endorsed the deal and
Mexican telecom doles out $905m for Virginia-based NII's last operating asset in Latin America