NII Holdings, which offers service under the Nextel...

NII Holdings, which offers service under the Nextel brand in Mexico and South America, is gaining traction in Brazil, BTIG analyst Walter Piecyk said Tuesday in a research note. “Monthly 3G net additions rose 65 percent sequentially in November to 38,000, likely from the launch of additional neighborhoods in Sao Paulo during the month,” Piecyk wrote. “Investors are hoping that 3G net additions will continue to rise for NIHD as its network expands and marketing efforts kick in. The 3G customers that NII is adding in Brazil also likely carry a higher ARPU [average revenue per user] that could help moderate the mid-teen decline in ARPU driven by price-cuts on its legacy business aimed at lowering churn."