NII Pays $715 Million for Brazil Wireless Airwaves
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NII Holdings Inc., operator of the Nextel brand in Latin America, paid 1.21 billion reais ($715 million) in a Brazilian government auction to gain airwaves to compete with Telefonica SA and America Movil SAB for users of high-speed wireless Internet.
NII won 11 of 13 lots in the auction, giving it 20 megahertz of airwaves in the 1.9 and 2.1 gigahertz bands across most of Brazil, according to results released today by telecommunications regulator Anatel. The lots include coverage of Sao Paulo, Rio de Janeiro and Brasilia.