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NII Reaches New Restructuring Deal with Creditors

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NII Holdings Inc. reached a new restructuring deal supported by its major creditors, with new money that will keep the Latin American Nextel carrier afloat as it awaits approval of a $1.88 billion sale of its Mexico unit to AT&T Inc., Dow Jones Daily Bankruptcy Review reported today. In a Thursday filing in bankruptcy court, NII provided details of a plan that puts NII in the hands of senior creditors and values the company at $2.81 billion. That is nearly $400 million more than a prior deal, which was made before AT&T agreed to buy the Mexico unit, a deal that is up for bankruptcy court approval later in March.