NII Holdings completes sale of Nextel Argentina

NII Holdings, Inc. (NASDAQ: NIHD) has completed the sale of its Argentine operations, transferring the remaining 51 percent of its ownership interest to subsidiaries of Grupo Clarin, the company said.

In connection with the sale, NII previously received USD178 million of aggregate net proceeds, including USD6 million of cash placed in escrow to secure specified indemnity obligations.

NII Holdings, based in Reston, VA, offers differentiated mobile communications service including fully integrated wireless voice and data services under the Nextel brand in Brazil.