March 18, 2019 / 11:56 AM / in a month

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

FILE PHOTO: The logo of America Movil is pictured on the wall of a reception area in the company's corporate offices in Mexico City, Mexico, May 18, 2017. REUTERS/Edgard Garrido

SAO PAULO (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

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