Deals
NII Gains on $400 Million Sale of Peru Division to Entel
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NII Holdings Inc., which offers mobile-phone service under the Nextel brand in Latin America, rose to the highest price in more than a month after agreeing to sell its Peru unit for $400 million.
NII, based in Reston, Virginia, will use the proceeds of the sale to Chile’s Empresa Nacional de Telecomunicaciones SA to invest in Mexico and Brazil, its two largest markets, the company said yesterday in a statement. The transaction is expected to close in the second half of this year, it said.