RESTON, Virginia, United States—Nextel Communications reported in a Securities and Exchange Commission (SEC) filing that it took a US$1.6 billion charge during the fourth quarter of last year to restructure its NII Holdings international operations, according to Reuters.
The charge was taken to help NII Holdings decrease its growth strategy and conserve cash resources.
Nextel announced earlier this year it was in talks with its creditors regarding roughly US$2.6 billion in debt NII Holdings currently has, and it noted it may be forced to sell certain international assets to meet creditor obligations.
