U.S. Markets closed

Mexico's America Movil to buy Nextel's Brazil operation -filing

SAO PAULO, March 18 (Reuters) - Mexico's America Movil, which controls telecom operator Claro in Brazil, said on Monday that it will acquire 100 percent of rival Nextel's Brazil operation, allowing for consolidation in the country's already crowded sector.

Claro will pay 905 million dollars for the company, which is controlled by mobile service company Nii Holdings Inc. The company had been on sale for months, as Reuters reported in June that Nii Holdings had hired new banks as it sought a buyer. (Reporting by Luciano Costa)