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NII Holdings' board approves organizational restructuring

NII Holdings Inc.'s board approved an organizational restructuring of the company to further streamline expenses by shifting the costs and associated responsibilities from its headquarters in Reston, Va., to its operating subsidiary in Brazil.

In connection with this restructuring, the board approved a form of separation and release agreement for the company's CFO, Daniel Freiman, and general counsel Shana Smith.

The board on March 6 updated the agreements with Freiman and Smith to provide for a target termination date of April 1, 2019.