Deals
NII Gains on Report of Talks to Sell Peru Unit: Washington Mover
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NII Holdings Inc., which sells Nextel mobile-phone service in Latin America, gained the most in more than four years on a report that it’s in advanced talks to sell its Peru unit to Chile’s Empresa Nacional de Telecomunicaciones SA.
Entel, as the Chilean phone company is known, would pay $500 million for the business, Peru’s El Comercio reported late yesterday, citing unnamed sources close to the transaction. Claudia Restrepo, an NII spokeswoman, didn’t immediately return phone and e-mail messages today from Bloomberg News. An Entel press official declined to comment.