Despite reporting growth in user base in Brazil, the result of NII Holdings in the first quarter was a loss of $ 376.1 million, an increase of 81% compared to losses in the same period last year. The company announced that it is going through a restructuring and plans to explore strategic options, including the potential sale of parts of the business, partnerships or alliances amid liquidity problems. According to Dolce, however, this process should not impact growth in Brazil. "We are shielded from any turmoil because we deliver results and grow," he says. "A mother understands that Brazil offers great opportunities," he says.
The operator Nextel seems to make more space in the mobile phone market. Less than a year after the launch of its 3G service, the company has enabled this last Monday (16) the commercial operation of 4G with its own infrastructure in the city of Rio de Janeiro. It is expected that the service will be expanded to other cities soon.
To provide the service, 300 antennas covering 19 Rio neighborhoods, greater coverage compared to its competitors were installed. According to the company, the goal is to offer its customers greater capacity for data transmission and up to 10 times faster connection. "Offering 4G will continue the strategy of quality in service delivery, simplicity in offering plans and transparency in the delivery of products " , says George Dolce , Vice President of Marketing at Nextel .
Along with the new network, Nextel launched the most competitive plans to attract consumers, including a comprehensive package of services and larger discounts for the purchase of appliances. The Smart Plan 400 , for example, offers 4 GB of data allowance, 400 minutes local calls to any carrier, unlimited text messages, free night for any carrier and national roaming, for R $ 129.99 calls.
You were one of those who bought an iPhone 5s or 5c in the United States, knowing that he would probably never be compatible with Brazil's 4G network? For if you live in the city of Rio de Janeiro , the story will change. Within 45 minutes from time, the operator Nextel began offering its new 4G LTE network with a different frequency from that pattern in Brazil: it is adopting a range of 1.800MHz , compatible with iPhones and 5c 5s purchased in any country in the world .
Auditors question "ongoing concern" due to negative Ebitda in the fourth-quarter and calendar 2014 guidance, and potential for breaking trailing-12-month covenants in June or December 2014. It's the vendor financing in Mexico and Brazil from the Chinese Development Bank and debt from two Brazilian banks. There are net leverage and interest coverage covenants.
NII believes leverage can be handled by transferring cash between operations, but since profits are required in coverage covenant, it will most likely need to be renegotiated at a cost. NII will continue to pursue asset sales (any and all, but emphasized NOT spectrum), but anything done strategically with Chile or Argentina will not help Mexico or Brazil covenant issues.
Its HFTs honestly. I had free time and I watched all trades. Hardly any of them are retail or human trades.
Most companies with decent management comes back.
What is stock price. Just an agreement between two parties. When no other parties are involved, you can become buyer and seller and bring down price.
Yeah. I did. I hardly see company that falls to cents going bankrupt with good assets and growing revenue base. Funny part with KOG was they were in exact situation as NIHD. SVU, S, LEAP, CLWR(i chckedout without and sold some and hold 30%). Others were LNG and GNW. I am hopeful of ANR hitting 20+ in near future.
Seriously, find out all the company that falls to cents and without issues like pension or such stupid liabilities or big fat lawsuits. Hardly anyone of them goes bankrupt. Another jackpot was KERX and GMCR.
Not true. Thats the very reason NIHD cant take out money from argentina. Thats the problem with MLPs ad Holdings. Many a times, MLPs tries to pay out via high dividend.
Bought KOG commons around 40 cents and when bonds where in 20s. Everyone said BK. Lot more company goes through these investment cycle and goes to subpenny. Very very few files BK.
You bought NIHD. :) Nextel argentina and Nexte Brasil exists as independently registered units in those countries. Thats the very reason bonds collapsed so much. In case of bankruptcy, it might take years and what you recover from those is questionable.
All I am saying stay out of Latin AM bonds. Rules and capitalism works differently there.
9% drop happened with 370k stocks. Rest are HFT exchanges at sub-sub-penny level to keep volume. Hate to say but this is manipulation by one player.
Argentina still may not pay a penny on this bonds. Same holds true in Brasil.