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NII Has Brazil’s Support for Unicel Acquisition, Folha Says

NII Holdings Inc., which sells wireless service under the Nextel brand in Latin America, has the support of the Brazilian government to purchase Unicel do Brasil Telecomunicacoes Ltda, Folha de Sao Paulo reported, without saying where it obtained the information.

The acquisition, which may cost 370 million reais ($181 million), would allow NII to compete with larger Brazilian rivals such as Telefonica Brasil SA and Tim Participacoes SA, the Sao Paulo-based newspaper said.

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