As it had warned, wireless provider
international unit filed for bankruptcy court protection on Friday, saying it had worked out a plan to reduce its debt.
The Nextel unit, NII Holdings, which mostly provides wireless services in Latin America, said it had a reorganization plan that reduced its debt load. The agreement includes restructuring of its debt to large creditor
The filing is not unexpected. In February, Nextel said it would
write off between $1 billion and $2 billion in debt it was owed by NII. In a later filing, it said NII might be forced into bankruptcy court.