(Reuters) - Mobile service provider NII Holdings Inc, reporting its ninth quarterly loss in a row, said on Monday it may have to file for bankruptcy after struggling to compete in Brazil and Mexico.
NII shares fell more than 50 percent in after-market trading to 30 U.S. cents, after ending regular trade at 66 cents on the Nasdaq.
MEXICO CITY (Reuters) - Carlos Slim's America Movil, Latin America's biggest telecoms company, said on Monday that new regulation in its core Mexico market was beginning to weigh on its performance.
Lower exchange rate and financing costs helped the company increase its profit by 32.7 percent to 18.83 billion pesos ($1.45 billion) in the second quarter. Revenue also rose 4 percent to 202.63 billion pesos.
But the results were below expectations forecast in a Reuters poll of five analysts of a net profit of 20.74 billion pesos ($1.6 billion).
(Reuters) - Spain's Telefonica SA is in talks to sell its stake in Telecom Italia in a move that could ease regulatory pressure in Brazil's wireless market, Brazilian newspaper Folha de S.Paulo reported on Friday.
Telefonica is negotiating a deal with investment funds to sell its stake in Telecom Italia, the paper reported, without saying how it obtained the information. Telefonica is left with a nearly 15 percent direct stake in the Italian company after fellow investors voted to dismantle their controlling bloc.
SAO PAULO (Reuters) - Two Brazilian board members of Portugal Telecom resigned after learning of 897 million euros ($1.22 billion) of short-term investments the company made without consulting them, newspaper Valor Economico reported on Wednesday.
The Portuguese company invested in debt issued by Rioforte, a firm controlled by the owners of Espirito Santo Group, which is a major shareholder in Portugal Telecom.