NII Hires UBS for Advice on Potential Asset Sales, Mergers

NII Holdings Inc. (NIHD), which offers Nextel mobile-phone service in Latin America, retained UBS AG for advice on potential strategic opportunities, including partnerships, a merger or a sale of the company or its assets.

NII has also hired Rothschild Inc. as a financial adviser to help modify its capital structure and improve its long-term liquidity, according to a statement today. The Reston, Virginia-based company said it may opt to refinance or restructure all or part of its debt.

Shares of NII tumbled 55 percent on Feb. 28 after the company said it may not be able to fulfill its financial obligations in 2015 and beyond. NII will have to “significantly” improve its operating performance and consider additional options to increase liquidity to fund its business, it said at the time. It said it has adequate funding for 2014.

NII, which announced in December that it would cut 1,400 jobs, reported a net loss of $745.8 million, or $4.33 a share, in the fourth quarter.

The company, which has units in Brazil, Mexico, Chile and Argentina, sold its Peru unit last year to Empresa Nacional de Telecomunicaciones SA for $400 million. Now, with the shares down 75 percent in the past year, NII’s entire market value is about $200 million.

To contact the reporter on this story: Ben Livesey in San Francisco at

To contact the editors responsible for this story: Cecile Daurat at John Lear

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.