NII Holdings, Inc. (NasdaqGS:NIHD) has hired Rothschild & Co to sell control of its Nextel Telecomunicações Ltda., two people with knowledge of the matter said. Rothschild was hired recently to organize the sale process of NII's 70% stake in Nextel Telecomunicações and has yet to set dates for delivery of bids, according to one of the sources, who asked for anonymity because talks are still private. The potential acquirers include Telefônica Brasil S.A. (BOVESPA:VIVT4) and Access Industries, Inc., the sources added.

If Access does not acquire NII's 70%, it may be ‘dragged along' to sell its 30% stake if the acquirer wants the entirety of Nextel Brazil. NII Holdings, Access Industries and Rothschild & Co did not respond to requests for comment. Telefonica Brasil declined to comment.