Subject: [NEXTEL-1] NII Hldgs See Possible '04 Tax Benefits Of $135M-$165M]

From: [email-masked]
Date: Tue, 11 May 2004 18:18:34 -0400

NII Hldgs See Possible '04 Tax Benefits Of $135M-$165M

WASHINGTON (Dow Jones)--NII Holdings Inc. (NIHD) said it could realize
tax benefits ranging from $135 million to $165 million in 2004 if its
operations in Mexico, Argentina and Peru continue to be profitable.  In
a quarterly filing with the Securities and Exchange Commission, NII said
Friday that it is evaluating deferred tax asset valuation allowance
balances in all of its foreign operating companies and in its U.S.
companies throughout 2004 to determine the appropriate level of
valuation reserves.  The Reston, Va.-based telecommunications company
said after an assessment of deferred tax assets in the first quarter, it
originally reversed $13.6 million of a deferred tax asset valuation
allowance related to the future realization of deferred tax assets
beyond 2004 for some of its operations in Mexico. This resulted in a tax
benefit that reduced its consolidated income tax provision for the
quarter ended March 31.  The company also said in the 10-Q filing that
its current business plan, under which it has been operating since
emerging from Chapter 11 reorganization in November 2002, doesn't
contemplate a significant expansion and doesn't require any additional
external funding.  However, it said it is evaluating expansion plans,
primarily in Mexico, but also in Brazil and other Latin American
markets. The filing said that if NII decides to pursue these plans, it
expects to seek external financing to fund them.

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