NII Holdings
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| Public | |
| Traded as | NASDAQ: NIHD |
| Industry | Wireless Services |
| Predecessor | Nextel |
| Founded | 1995 |
| Headquarters | Reston, Virginia, United States |
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Area served
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Key people
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Steve Shindler (CEO) |
| Products | High speed networks, Two way messaging, Push to Talk |
| Revenue | USD 6.746 billion |
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Number of employees
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16,089 |
| Subsidiaries | Nextel Brazil |
| Website | www |
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.
In 2012, for the third consecutive year, NII Holdings ranked in the Fortune 500 and Barron's 500 lists. NII also has been named one of the best places to work among multinationals in Latin America by the Great Place to Work® Institute.
NII went through bankruptcy in 2014 and 2015.
NII originally launched as the international business unit of Nextel Communications as McCaw International in 1995. Later Nextel changes its name to Nextel international in 1997.
Nextel International changed its name to NII Holdings in 2001
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
NII Holdings also sold their fourteen percent minority interest in Telus for 196 million dollars also in the year 2001
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.
NII Holdings exited from bankruptcy in On November 12, 2002 with Nextel owning 36% of the restructured company.
Following its Bankruptcy restructuring, NII Holdings begins trading a NII on NASDAQ as NIHD. in 2003
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Wikipedia