NII Holdings Surges as Telecom Italia Considers Nextel Bid

Telecom Italia SpA’s unit in Brazil is considering bidding for the country’s fifth-largest wireless carrier, Nextel Telecomunicacoes Ltda., to boost its market share and gain spectrum in some metropolitan areas, people familiar with the matter said.

NII Holdings Inc., the majority owner of Nextel, surged as much as 27 percent on the news in U.S. trading.

Telecom Italia Chief Executive Officer Amos Genish is considering discussing the possible deal at the carrier’s planned board meeting Sept. 24, according to the people. The company may hire advisers to explore a potential offer if the board approves, the people said, ...