America Movil is set to buy Nextel Telecom Brazil from NII Holdings. Nextel Telecom has strong presence in the cities of Sao Paulo and Rio de Janeiro, the main markets in Brazil.

The purchase price for Nextel Brazil is $905 million on a cash free / debt free basis. Nextel Brazil provides nationwide mobile telecommunications services.

Claro, the Brazilian subsidiary of America Movil, will strengthen its position as one of the leading telecom service providers in Brazil, strengthening its mobile network capacity, subscriber base and coverage.