NII Holdings Announces Grant of Nationwide Wireless License to Nextel Mexico
Published on: 4th Oct 2010
Note -- this news article is more than a year old.
Latin American iDEN network operator, NII Holdings has announced that Mexico's Ministry of Communications and Transport has granted and delivered a concession title for the use of 30 MHz in the AWS spectrum 1710 1770 2110 2170 MHz to the consortium formed by Nextel Mexico and Televisa, a subsidiary of Grupo Televisa.
The grant and delivery of this concession title is one of the closing conditions contemplated by the Investment and Securities Subscription Agreement dated as of February 15, 2010 between Grupo Televisa and Nextel Mexico pursuant to which Grupo Televisa would acquire an equity stake in Nextel Mexico. The parties are in discussions regarding whether the other closing conditions have been or can be met and have agreed to delay the closing date for up to five business days to allow time for those discussions.
Nextel Mexico plans to utilize this spectrum to support a new 3G network to be deployed across Mexico, which is expected to be launched in certain markets in the next 12 to 18 months.