NII Holdings to offer latest iPhones in Brazil; shares jump

Fri Jan 17, 2014 8:59am EST

Jan 17 (Reuters) - NII Holdings Inc, which provides telecom services under the Nextel brand in Latin America, said it would offer Apple Inc's iPhone 5S and iPhone 5C to its customers in Brazil, sending its shares up 25 percent before the bell.

NII has been facing stiff competition from Telefonica Brasil SA and billionaire Carlos Slim's America Movil as they lure NII's higher-paying business customers with unlimited call plans and faster and bigger networks.

NII, which targets businesses in Mexico, Brazil, Argentina and Chile, said in December it would cut jobs as part of a restructuring plan aimed at regaining market share.

Shares of the company were up 25 percent at $2.97 in premarket trading on Friday.

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