Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

NII Hires UBS for Advice on Potential Asset Sales, Mergers

March 10 (Bloomberg) -- NII Holdings Inc., 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 blivesey@bloomberg.net

To contact the editors responsible for this story: Cecile Daurat at cdaurat@bloomberg.net John Lear

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.