NII Holdings has agreed to sell their subsidary, Nextel Chile to an international consortium of Argentine, UK and US investors for an undisclosed amount.

The buyers include Argentine media company Grupo Veintitres, UK investment fund ISM Capital and US fund Optimum Advisors. Nextel Chile said that the investors will take immediate control of the company. Nextel Chile president Estanislao Pena was confirmed in his position by the new ownership.

Nextel Chile has 60MHz of AWS spectrum and nearly 260,000 subscribers across the country.

According to previous reports, Argentine businessmen Matías Garfunkel and Sergio Szpolski, who have close ties with the Argentine government and own media group Grupo Veintitres, were also seeking to buy Nextel Argentina. NII Holdings decided to sell its Argentine subsidiary under a restructuring plan which included the sale of Nextel Peru.