Announcements
May 26, 2015

NII Holdings Completes $1.88 Billion Sale to AT&T

NII Holdings, Inc. announced it has completed the $1.88 billion sale of its Mexican operations to AT&T. Kramer Levin represents the Official Committee of Unsecured Creditors in NII’s ongoing bankruptcy case, one of the largest Chapter 11 cases of 2014. This pivotal transaction, which is subject to customary post-closing adjustments, led to a revised plan support agreement with significantly increased plan value and distributions to all creditor classes and the support of more than 70 percent of the estate’s creditors. The Chapter 11 plan, for which the Creditors’ Committee is a co-plan proponent, is scheduled for confirmation in June 2015 in the Southern District of New York.

Led by Corporate Restructuring and Bankruptcy partner Kenneth H. Eckstein, the Kramer Levin team working on the sale transaction included Corporate Restructuring and Bankruptcy partner Adam C. Rogoff, Corporate partner Shari Kahn Krouner, Tax partner Barry Herzog, Corporate Restructuring and Bankruptcy associate Anupama Yerramalli and Corporate associate Amanda Webber.

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