|Traded as||NASDAQ: NIHD|
|Headquarters||Reston, Virginia, United States|
|Steve Shindler (CEO)|
|Products||High speed networks, Two way messaging, Push to Talk|
|Revenue||USD 6.746 billion|
Number of employees
NII Holdings, Inc. (formerly Nextel International) is an American holding company that, through its subsidiary Nextel Telecomunicações Ltda., provides mobile communications services under the Nextel brand in Brazil. NII operates iDEN, 3G UMTS/HSDPA, and 4G LTE networks in Brazil.
NII went through bankruptcy in 2014 and 2015.
- 1 History
- 1.1 Divestiture of Minority Interest
- 1.2 First Bankruptcy and Reorganization
- 1.3 Quarterly report Admendments
- 1.4 Agreement with Televisa
- 1.5 Divestiture of Nextel Peru and Chile
- 1.6 Second Bankruptcy and Reorganization
- 2 Post Bankruptcy
- 3 Wireless operations
- 4 References
- 5 External links
Nextel International changed its name to NII Holdings in 2001
Divestiture of Minority Interest
In China, NII Holdings had to sell its minority interest in Shanghai CCT-McCaw Telecommunications Systems Co., Ltd in March 2000 because China Unicom Informed NII Holdings that its minority share of twelve percent had to be terminated because its financing structure was no longer permitted by Chinese regulations.
Due to unfavorable market conditions, NII Holdings sold their twenty one percent Minority interest of NEXNET Co(Nextel Japan) to Motorola for 10 million in exchange for forgiveness of debt owed to Motorola in 2001
First Bankruptcy and Reorganization
NII Holdings filed its first chapter 11 bankruptcy on May 2002. The road to bankruptcy started when NII Holdings' Nextel Argentina operating company failed to make a principle payment of 108 million in December 2001. In February 2002, NII Holdings failed to make a 41 million dollar interest payment on a 650 million dollar bond as well in order to preserve cash while it restructured its debts and implemented a revised business plan.
Following its Bankruptcy restructuring, NII Holdings begins trading a NII on NASDAQ as NIHD. in 2003
Discontinuation and Divestiture of Nextel Philippines
Nextel Philippines started operations in 1995. But due to poor operating performance, being in violation of Philippine ownership laws, as well as an attempt to save cash, NII Holdings decided to stop funding its Nextel Communications Philippines, Inc operations at the end of fiscal year 2001. By the end of the fourth quarter of the fiscal year 2002, NII Holdings sold its 59.1% share in Nextel Philippines with its fifty three thousand, eight hundred subscribers for 23.5 Million to the The Velarde group called Next Mobile
Quarterly report Admendments
On October 27, 2004, NII amended its 2003 Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q for the first and second quarters of 2004 to restate its financial statements to correct the errors in the periods in which they originated as soon as practical.
Agreement with Televisa
In February 2010, NII Holdings and Grupo Televisa signed a definitive agreement under which Televisa will acquire an equity stake in Nextel Mexico. Under the agreement, Televisa will invest $1.44 billion in cash for an initial 30% equity stake in Nextel Mexico, which implies Nextel Mexico's pre-investment value at $4.3 billion. On October 19, 2010, however, vice president and COO in Mexico Gustavo Cantu announced the partnership had been terminated by mutual agreement. More recently Cantu spoke about the future of content and telecommunications in Mexico.
Divestiture of Nextel Peru and Chile
In August 2014, NII Holdings sold Nextel Chile to Fucata, S.A
Second Bankruptcy and Reorganization
On January 26, 2015, it was announced that AT&T had entered into an agreement with NII Holdings, Inc. to acquire its wireless business in Mexico for US$1.875 billion, less the outstanding net debt of the business at closing, in a transaction pursuant to Section 363 of the U.S. Bankruptcy Code.
Decline and Mismanagement
The road to bankruptcy is one that was due to the arrogance to of NII Holdings' Mexican executives. Nextel Mexico President Peter Foyo started a trend for other executives to live in other states where Nextel had no corporate presence. Nextel's president lived in Cancun, Quintana Roo. In December 2013, Peter Foyo was ousted from the company 
Nextel Mexico also reacted too slow to Sprint's announcement of that it was shutting down its iDEN network in 2012. Sprints iDEN shutdown eliminated Nextel's Mexico main competitive advantage, which was free calls to the United States. After Sprint Shutdown its iDEN network, many regions of Northern Mexico lost coverage that was provided by Sprint via roaming agreements. This resulted in a loss of one million subscribers the following Quarter; leaving Nextel Mexico with only 2.93 million subscribers. After Nextel Mexico coverage degraded due to Sprint's iDEN Shutdown, Nextel Mexico also delayed the deployment of the 30Mhz of Spectrum that it acquired in the 1.7 and 2.1 GHz bands in 2010 resulting in additional subscriber losses in Mexico.
NII named John McMahon president and Gustavo Cantu remained as COO after Peter Foyo was dismissed. Gustavo Cantu left the company the next year to join New York Life as it's COO for Mexico.
Defaulting on Bonds
Due to falling subscriber count in Mexico and mounting debt of US$5.8 billion, NII Holdings opted to not pay $118.8 million in interest obligations on Senior Notes that were due on August 15, 2014. On September 15, 2014 NII filed for bankruptcy protection after losing 77 thousand subscribers and $629 million in the previous quarter.
Divestiture of Mexican Assets
On April 30, 2015, NII Holdings finalized the sale of Nextel Mexico, of which it held control for 18 years, for US$1.875 billion. NII Holdings ended up with US$1.448 billion in Net Proceeds after paying off a defaulted debt balance of $350.5 million to repay in full the outstanding principal and accrued interest due under its debtor-in-possession loan that it borrowed in March 2015.
NII Holding exited bankruptcy with court approval on June 29, 2015.  where it offered 100 million shares of new common stock and $745 million in cash to its debt holders under its old stock ticker NIHD. In September of the same year, Nii Holdings announced that they sold forty-nine percent of Nextel Argentina to Grupo Clarin further reducing their operations in the Argentinian Market in order to support their growing Brazilian operations
Sale of Nextel Argentina
On January 29, 2016 NII holding completed selling its remaining shares of Nextel Argentina to Grupo Clarin
Currently NII Holdings operates Nextel Brazil offering post paid wireless voice and data services
Nextel Brazil operates the following network
|Radio frequency range||Band number||Generation||Radio Interface||Status|
|800 MHz ESMR||N/A||2G||iDEN||Active|
|2100 MHz||N/A||4G||LTE||Currently Deploying|
- http://www.nii.com/aboutus.html About Nii
- NII HOLDINGS - About Us
- "NII Holdings announces agreement on reorganization plan". Virginia Business. 2014-11-25. Retrieved 2015-01-11.
- http://www.nii.com/aboutus.html About Nii Holdings, Inc
- Nii holdings. "10 year fiscal year 1999 2. Shanghai, Peoples Republic of China Negotiations.". Edgar online. Nii holdings. Retrieved 20 April 2015.
- Nii holdings. "Fiscal year 1999- Item 1. Business". Edgar online. Nii holding. Retrieved 20 April 2015.
- Nii Holdings. "Form 10k; fiscal year 2001". Edgar Online. Nii Holdings. Retrieved 20 April 2015.
- NEXTEL COMMUNICATIONS, INC. "FORM 10-K - fiscal year 2002". SEC- Edgar Online. Retrieved 19 May 2015.
- Nii holdings. "form 10-k fiscal year 2001". Edgar online. Nii Holdings. Retrieved 18 May 2015.
- Nii holdings. "Form 10K- Fiscal year 2002". Yahoo Edgar Online. Nii Holdings. Retrieved 18 May 2015.
- "NII Holdings Completes Its Review of Nextel Mexico Bookkeeping Errors and Announces Plans to Amend Certain Prior Period Filings; The Cumulative Effect Is a $3.4 Million Understatement of Income Before Taxes and a $2.1 Million Overstatement of Operating Income Related to Prior Periods; Correction of the Errors Will not Impact Third Quarter Results".
- "NII Holdings to restate 2003, 2004 results.".
- "Cantu, Bauer, Morin on Mexico Telecommunications". Bloomberg.
- Nii Holdings. "form 10k fiscal year 2014". Nii holdings investor relations. Nii holdings. Retrieved 20 April 2015.
- Harrison, Crayton (5 April 2013). "NII Gains on $400 Million Sale of Peru Division to Entel". Bloomberg.com (Bloomberg).
- Checkler, Joseph; Brickley, Peg (15 September 2014). "NII Holdings Files for Chapter 11 Bankruptcy Protection". The Wall Street Journal.