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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>As filed with
the Securities and Exchange Commission on June 26, 2015</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-size: 12pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-size: 12pt">Registration No.
333-__________</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, DC 20549</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 16pt">FORM S-8</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>REGISTRATION
STATEMENT<BR>
UNDER THE SECURITIES ACT OF 1933</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 16pt">NII Holdings,
Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in its
charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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    <TD STYLE="width: 51%; text-align: center; font-size: 10pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">Delaware</FONT></TD>
    <TD STYLE="width: 49%; text-align: center; font-size: 10pt"><FONT STYLE="font: 12pt Times New Roman, Times, Serif">91-1671412</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(State or other jurisdiction</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif">of incorporation or organization)</FONT></TD>
    <TD STYLE="text-align: center; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">(I.R.S. Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt">1875 Explorer
Street, Suite 800, Reston, VA 20190</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Address of Principal Executive Offices Including
Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>NII Holdings,
Inc. 2015 Incentive Compensation Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Full title of the plan)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Shana C. Smith,
Esq.</B></FONT><BR>
<FONT STYLE="font-size: 12pt"><B>Vice President and Secretary</B></FONT><BR>
<FONT STYLE="font-size: 12pt"><B>c/o NII Holdings, Inc.</B></FONT><BR>
<FONT STYLE="font-size: 12pt"><B>1875 Explorer Street, Suite 800</B></FONT><BR>
<FONT STYLE="font-size: 12pt"><B>Reston, Virginia 20190</B></FONT><BR>
<FONT STYLE="font-size: 12pt"><B>(703) 390-5100</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Name and Address, and Telephone Number, including
Area Code, of Agent For Service)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Indicate by check mark whether the Registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of &ldquo;large accelerated
filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo; in Rule 12b-2 of the Exchange Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <TD STYLE="width: 39%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Large accelerated filer</FONT></TD>
    <TD STYLE="width: 13%; text-align: center"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD STYLE="width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accelerated filer</FONT></TD>
    <TD STYLE="width: 16%; text-align: center"><FONT STYLE="font-family: Wingdings">x</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Non-accelerated filer</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Smaller reporting company</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">(Do not check if a smaller reporting company)</FONT></TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">CALCULATION
OF REGISTRATION FEE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center">&nbsp;</P>

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<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>Title&nbsp;of&nbsp;Each&nbsp;Class&nbsp;of</B></FONT><B><FONT STYLE="font-size: 8pt"><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif">Securities&nbsp;to&nbsp;be</FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif">Registered</FONT></FONT></B></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>Amount&nbsp;to&nbsp;be</B></FONT><B><FONT STYLE="font-size: 8pt"><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif">Registered<SUP>(1)</SUP></FONT></FONT></B></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>Proposed&nbsp;Maximum</B></FONT><B><FONT STYLE="font-size: 8pt"><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif">Offering&nbsp;Price&nbsp;Per</FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif">Share<SUP>(2)</SUP></FONT></FONT></B></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>Proposed&nbsp;Maximum</B></FONT><B><FONT STYLE="font-size: 8pt"><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif">Aggregate&nbsp;Offering</FONT><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif">Price<SUP>(2)</SUP></FONT></FONT></B></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"><B>Amount&nbsp;of&nbsp;Registration</B></FONT><B><FONT STYLE="font-size: 8pt"><BR> <FONT STYLE="font-family: Times New Roman, Times, Serif">Fee</FONT></FONT></B></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 30%; font-size: 10pt">Common Stock, par value $0.001</TD><TD STYLE="width: 3%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">5,263,158</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 12%; font-size: 10pt; text-align: right">20.68</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 13%; font-size: 10pt; text-align: right">108,842,107.44</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD><TD STYLE="width: 3%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 1%; font-size: 10pt; text-align: left">$</TD><TD STYLE="width: 13%; font-size: 10pt; text-align: right">12,647.46</TD><TD STYLE="width: 1%; font-size: 10pt; text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>Represents common stock, par value $0.001 per share, of NII Holdings,
                                         Inc. (the &ldquo;Registrant&rdquo;) issuable pursuant to the NII Holdings, Inc. 2015
                                         Incentive Compensation Plan (the &ldquo;Plan&rdquo;) being registered hereon. Pursuant
                                         to Rule 416 under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;),
                                         this registration statement also covers such additional common stock as may become issuable
                                         pursuant to the anti-dilution provisions of the Plan.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>Estimated solely for the purposes of determining the amount of the registration fee, pursuant to Rule 457 under the Securities
Act, and based on the value attributed to the common stock in connection with the Registrant&rsquo;s emergence
from bankruptcy pursuant to its Plan of Reorganization.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXPLANATORY NOTE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On September 15, 2014, the Registrant and
eight of its U.S. and Luxembourg-domiciled subsidiaries filed voluntary petitions
seeking relief under Chapter 11 of Title 11 of the United States Code (the &ldquo;Bankruptcy Code&rdquo;) in the United States Bankruptcy Court for the Southern
District of New York (the &ldquo;Bankruptcy Court&rdquo;). In addition, following September 15, 2014, five additional
subsidiaries of the Registrant filed voluntary petitions
seeking relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">On June 19, 2015, the Bankruptcy Court
entered the Findings of Fact, Conclusions of Law and Order Confirming Pursuant to Section 1129(a) and (b) of the Bankruptcy
Code the First Amended Joint Plan Of Reorganization (the &ldquo;Plan of Reorganization&rdquo;) Proposed by the Debtors
and Debtors in Possession and the Official Committee of Unsecured Creditors (the &ldquo;Confirmation Order&rdquo;), which approved
and confirmed the Plan of Reorganization, as modified by the Confirmation Order.&nbsp;&nbsp; On June 26, 2015, the Registrant
satisfied the conditions of the Confirmation Order and the Plan of Reorganization became effective (the &ldquo;Emergence Date&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unless otherwise noted or suggested by context,
all financial information and data and accompanying financial statements and corresponding notes, as of and prior to the Emergence
Date, as contained or incorporated by reference herein, reflect the actual historical consolidated results of operations and financial
condition of the Registrant for the periods presented and do not give effect to the Plan of Reorganization or any of the transactions
contemplated thereby, including the sale of the Registrant&rsquo;s operations in Mexico that the Registrant completed in April
2015, or the adoption of &ldquo;fresh-start&rdquo; accounting. Accordingly, such financial information may not be representative
of the Registrant&rsquo;s performance or financial condition after the Emergence Date. Except with respect to such historical financial
information and data and accompanying financial statements and corresponding notes or as otherwise noted or suggested by the context,
all other information contained herein relates to the Registrant following the Emergence Date.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">PART
II</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-transform: uppercase; text-align: center; text-indent: 0in">INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">Item 3.&nbsp;&nbsp;Incorporation
of Documents by Reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Registrant hereby incorporates by reference
into this registration statement the following documents filed by it with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;)
(other than portions of those documents that have been &ldquo;furnished&rdquo; pursuant to Item 2.02 or Item 7.01 in any Current
Report on Form 8-K or other information deemed to have been &ldquo;furnished&rdquo; rather than filed in accordance with the SEC&rsquo;s
rules):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(a)</TD><TD>The Registrant&rsquo;s Annual Report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 10, 2015;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD>The Registrant&rsquo;s Quarterly Report on Form 10-Q for the period ended March 31, 2015, filed with the SEC on May 7, 2015;
and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD>The Registrant&rsquo;s Current Reports on Form 8-K, filed with the SEC on January 26, March 6, May 6, May 11, and June 22,
2015.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">All documents filed by the Registrant with the
SEC pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;)
subsequent to the effective date of this registration statement and prior to the filing of a post-effective amendment that indicates
that all securities offered have been sold or that deregisters all securities then remaining unsold, will be deemed to be incorporated
by reference in this registration statement and to be part hereof from</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">the date of filing of such documents. Any statement
contained in any document incorporated or deemed to be incorporated by reference herein will be deemed to be modified or superseded
for purposes of this registration statement to the extent that a statement contained herein or in any other subsequently filed
document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement
so modified or superseded will not be deemed, except as modified or superseded, to constitute a part of this registration statement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">Item 4.&nbsp;&nbsp;Description
of Securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Authorized Capital </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Registrant has the authority to issue a
total of 140,000,000 shares of common stock, par value $0.001 per share, and 10,000,000 shares of preferred stock, par value $0.001 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Voting Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Subject to any voting rights granted to preferred
stock that may be outstanding from time to time, each share of the Registrant&rsquo;s common stock shall be entitled to one vote
per share, in person or by proxy, on all matters submitted to a vote for the Registrant&rsquo;s stockholders on which the holders
of common stock are entitled to vote. Except as otherwise required in the Registrant&rsquo;s Amended and Restated Certificate
of Incorporation (the &ldquo;Charter&rdquo;), Fifth Amended and Restated Bylaws (the &ldquo;Bylaws&rdquo;) or by applicable law,
the holders of common stock shall vote together as one class on all matters submitted to a vote of stockholders generally (or if
any holders of shares of preferred stock are entitled to vote together with the holders of common stock, as a single class with
such holders of shares of preferred stock). The Charter and Bylaws do not provide for cumulative voting in connection with the
election of directors, and accordingly, holders of more than 50% of the shares voting will be able to elect all of the directors.
The holders of a majority of the shares of common stock issued and outstanding and entitled to vote thereat, present in person
or represented by proxy, constitute a quorum at all meetings of the stockholders for the transaction of business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Until the 2017 Annual Meeting, the Registrant&rsquo;s
directors are divided into two classes, designated as Class I and Class II. The initial term for the one
director in Class I will expire at the annual meeting of stockholders to be held in 2016 and thereafter at each annual
meeting of stockholders. The term for all of the other directors, who are in Class II, expires at the annual meeting
of stockholders to be held in 2017. All directors will be elected annually commencing at the annual meeting of stockholders
to be held in 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Dividend Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Subject to the preferences applicable to any
preferred stock outstanding at any time, if any, the holders of shares of common stock shall be entitled to receive such dividends
and other distributions in cash, property or shares of stock as may be declared thereon by the Registrant&rsquo;s board
of directors from time to time out of the assets or funds legally available.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">As of the date hereof, no shares of the Registrant&rsquo;s
preferred stock are outstanding. The Charter provides that the board of directors may, by resolution, establish
one or more classes or series of preferred stock having the number of shares and relative voting rights, designations, dividend
rates, liquidation, and other rights, preferences, and limitations as may be fixed by them without further stockholder approval.
The holders of preferred stock may be entitled to preferences over common stockholders with respect to dividends, liquidation,
dissolution, or the Registrant&rsquo;s winding up in such amounts as are established by the resolutions of the board of
directors approving the issuance of such shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The issuance of preferred stock may have the
effect of delaying, deferring or preventing a change in control of the Registrant without further action by the holders and may
adversely affect voting and other rights of holders of common stock. In addition, issuance of preferred stock, while providing
desirable</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">flexibility in connection with possible acquisitions
and other corporate purposes, could make it more difficult for a third party to acquire a majority of the outstanding shares of
voting stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>No Preemptive Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">No holder of common stock has any preemptive
right to subscribe for any shares of the Registrant&rsquo;s capital stock issued in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Liquidation Rights</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">If the Registrant is liquidated (either partially
or completely), dissolved or wound up, whether voluntarily or involuntarily, the holders of the common stock shall be entitled
to share ratably in the Registrant&rsquo;s net assets remaining after payment of all liquidation preferences, if any, applicable
to any outstanding preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Action by Written Consent</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Charter provides for action by written consent
by holders of the common stock by holders having not less than the minimum number of votes that would be necessary to authorize
or take such action at a meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Delaware Anti-Takeover Law</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Registrant is not subject to Section 203
of the General Corporation Law of the State of Delaware (the &ldquo;DGCL&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Transfer Agent and Registrar</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The transfer agent for the Registrant&rsquo;s
common stock is Computershare Trust Company, N.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Listing of Common Stock </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Registrant has applied to list its common
stock on the NASDAQ Global Select Market under the symbol &ldquo;NIHD.&rdquo;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">Item 5.&nbsp;&nbsp;Interests of
Named Experts and Counsel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Jones Day, New York, New York, will pass upon
the validity of the common stock offered in this offering, when issued pursuant to the terms and conditions of the Plan.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">Item 6.&nbsp;&nbsp;Indemnification
of Directors and Officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Registrant&rsquo;s Charter and Bylaws provide
for indemnification of officers and directors of the Registrant and certain other persons to the full extent permitted by law,
as now in effect or later amended, against liabilities and expenses incurred by any of them in certain stated proceedings and under
certain stated conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">The Registrant may maintain insurance for the
benefit of its directors, officers, employees, agents and certain other persons, insuring such persons against any expense, liability,
or loss, including liability under the securities laws. In addition, the Registrant has entered into indemnification agreements
with its directors and executive officers that require it to indemnify these persons for claims made against each of these persons
because he or she is, was or may be deemed to be a director, officer, employee or agent of the Registrant or any of its subsidiaries.
The Registrant is obligated to pay the expenses of these persons in connection with any claims that are subject to the agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Section 102 of the DGCL allows a corporation
to eliminate the personal liability of directors of a corporation to the corporation or its stockholders for monetary damages for
a breach of fiduciary duty as a director, except where the director breached his duty of loyalty, failed to act in good faith,
engaged in</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in">intentional misconduct or knowingly violated a
law, authorized the payment of a dividend or approved a stock repurchase in violation of the DGCL or obtained an improper personal
benefit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Section&nbsp;145 of the DGCL provides, among
other things, that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding (other than an action by or in the right of the corporation) by reason of the fact
that the person is or was a director, officer, agent or employee of the corporation or is or was serving at the corporation&rsquo;s
request as a director, officer, agent, or employee of another corporation, partnership, joint venture, trust or other enterprise,
against expenses, including attorneys&rsquo; fees, judgments, fines and amounts paid in settlement actually and reasonably incurred
by the person in connection with such action, suit or proceeding. The power to indemnify applies (a)&nbsp;if such person is successful
on the merits or otherwise in defense of any action, suit or proceeding, or (b)&nbsp;if such person acted in good faith and in
a manner he or she reasonably believed to be in the best interest, or not opposed to the best interest, of the corporation, and
with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. The power
to indemnify applies to actions brought by or in the right of the corporation as well, but only to the extent of defense expenses
(including attorneys&rsquo; fees but excluding amounts paid in settlement) actually and reasonably incurred and not to any satisfaction
of judgment or settlement of the claim itself, and with the further limitation that in such actions no indemnification shall be
made in the event of any adjudication of negligence or misconduct in the performance of his or her duties to the corporation, unless
the court believes that in the light of all the circumstances indemnification should apply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Section&nbsp;174 of the DGCL provides, among
other things, that a director, who willfully or negligently approves of an unlawful payment of dividends or an unlawful stock purchase
or redemption, may be held liable for such actions. A director who was either absent when the unlawful actions were approved or
dissented at the time may avoid liability by causing his or her dissent to such actions to be entered in the books containing the
minutes of the meetings of the board of directors at the time such action occurred or immediately after such absent director receives
notice of the unlawful acts.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">Item 7.&nbsp;&nbsp;Exemption from
Registration Claimed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Not applicable.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">Item 8.&nbsp;&nbsp;Exhibits.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Exhibit
                                         Number</B></FONT></P></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Exhibit
                                         Description</B></FONT></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Filed Herewith</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 15%; text-align: center">3.1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 68%; text-align: left"> Amended and Restated Certificate of Incorporation of NII Holdings, Inc.</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 15%; padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">3.2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Fifth Amended and Restated Bylaws of NII Holdings, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">4.1</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">NII Holdings, Inc. 2015 Incentive Compensation Plan</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">4.2</TD><TD>&nbsp;</TD>
    <TD>Form of stock certificate for common stock, $0.001 par value per share</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">5.1</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Opinion of Jones Day</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">23.1</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Consent of KPMG LLP</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">23.2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Consent of PricewaterhouseCoopers LLP</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">23.3</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Consent of Jones Day (included in Exhibit 5.1)</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER" STYLE="margin-top: 0; margin-bottom: 0"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">- <!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --> -</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 0 67.5pt; text-indent: 0in">Item 9.&nbsp;&nbsp;Undertakings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.5in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To file, during any period
in which offers or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: 0.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To include any prospectus
required by Section 10(a)(3) of the Securities Act;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: 0.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;To reflect in the prospectus
any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of a prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the &ldquo;Calculation
of Registration Fee&rdquo; table in the effective registration statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-indent: 0.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;To include any material
information with respect to the plan of distribution not previously disclosed in the registration statement or any material change
to such information in the registration statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not
apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed
with or furnished to the SEC by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated
by reference in the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.5in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;That, for the purpose of determining
any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: 0.5in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To remove from registration
by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(b)&nbsp;&nbsp;&nbsp;&nbsp;The undersigned Registrant hereby undertakes
that, for purposes of determining any liability under the Securities Act, each filing of the Registrant&rsquo;s annual report pursuant
to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&rsquo;s annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to
the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the SEC such indemnification is
against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a
court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in
the City of Reston, Commonwealth of Virginia, on this 26<SUP>th</SUP> day of June 2015.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.25in"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>NII HOLDINGS, INC. </B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 46%; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/ Shana C. Smith</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Name: Shana C. Smith</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title:&nbsp;&nbsp;&nbsp;Vice President and Secretary</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed by the following persons in the capacities indicated. In addition, each
person whose signature appears below constitutes and appoints Steven M. Shindler, Shana C. Smith and Daniel E. Freiman, and each
of them singly, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for
him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective
amendments) to this registration statement and any and all additional registration statements pursuant to Rule 462(b) of
the Securities Act and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the
SEC, granting unto each said attorney-in-fact and agents full power and authority to do and perform each and every act in person,
hereby ratifying and confirming all that said attorney-in-fact and agents full power and authority to do and perform each and
every act in person, hereby ratifying and confirming all that said attorney-in-fact and agents or either of them or their or his
or her substitute or substitutes may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 25%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Signature</B></FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 48%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Title</B></FONT></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt"><B>&nbsp;</B></FONT></TD>
    <TD STYLE="width: 25%; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Date</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Steven M. Shindler</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">Chief Executive Officer</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">June 26, 2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Steven M. Shindler</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">(Principal Executive Officer)</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Juan R. Figuereo</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">Chief Financial Officer</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">June 26, 2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Juan R. Figuereo</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">(Principal Financial Officer)</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Timothy M. Mulieri</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; padding-bottom: 1pt">Vice President and Controller</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">June 26, 2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Timothy M. Mulieri</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">(Principal Accounting Officer)</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Kevin L. Beebe</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">Director</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">June 26, 2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Kevin L. Beebe</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ James V. Continenza</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">Director</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">June 26, 2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">James V. Continenza</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Howard S. Hoffmann</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">Director</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">June 26, 2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Howard S. Hoffmann</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 25%; text-align: left; border-bottom: Black 1pt solid">/s/ Ricardo Knoepfelmacher</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 48%; padding-bottom: 1pt">Director</TD><TD STYLE="width: 1%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 25%; text-align: center; padding-bottom: 1pt">June 26, 2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Ricardo Knoepfelmacher</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">/s/ Christopher T. Rogers</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="padding-bottom: 1pt">Director</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: center; padding-bottom: 1pt">June 26, 2015</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Christopher T. Rogers</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">EXHIBIT INDEX</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Exhibit Number</FONT></TD><TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Exhibit
                                         Description</B></FONT></P></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 8pt">Filed Herewith</FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 15%; text-align: center">3.1</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 68%; text-align: left">Amended and Restated Certificate of Incorporation of NII Holdings, Inc.</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 15%; padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">3.2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Fifth Amended and Restated Bylaws of NII Holdings, Inc.</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">4.1</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">NII Holdings, Inc. 2015 Incentive Compensation Plan</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">4.2</TD><TD>&nbsp;</TD>
    <TD>Form of stock certificate for common stock, $0.001 par value per share</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">5.1</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Opinion of Jones Day</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">23.1</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Consent of KPMG LLP</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">23.2</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Consent of PricewaterhouseCoopers LLP</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD><TD>&nbsp;</TD>
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">23.3</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">Consent of Jones Day (included in Exhibit 5.1)</TD><TD>&nbsp;</TD>
    <TD STYLE="padding-left: 10pt; text-align: center">*</TD></TR>
</TABLE>

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{"company-data": {"conformed-name": "NII HOLDINGS INC", "cik": "0001037016", "assigned-sic": "4812", "irs-number": "911671412", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-205259", "film-number": "15954713"}, "business-address": {"street1": "1875 EXPLORER ST.", "street2": "SUITE 1000", "city": "RESTON", "state": "VA", "zip": "20190", "phone": "7033905100"}, "mail-address": {"street1": "1875 EXPLORER ST.", "street2": "SUITE 1000", "city": "RESTON", "state": "VA", "zip": "20190"}, "former-company": [{"former-conformed-name": "NEXTEL INTERNATIONAL INC", "date-changed": "19970919"}, {"former-conformed-name": "MCCAW INTERNATIONAL LTD", "date-changed": "19970402"}]}
As filed with
the Securities and Exchange Commission on June 26, 2015
Registration No.
333-__________
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM S-8
REGISTRATION
STATEMENT
UNDER THE SECURITIES ACT OF 1933
NII Holdings,
Inc.
(Exact name of registrant as specified in its
charter)
Delaware
91-1671412
(State or other jurisdiction
of incorporation or organization)
(I.R.S. Employer Identification No.)
1875 Explorer
Street, Suite 800, Reston, VA 20190
(Address of Principal Executive Offices Including
Zip Code)
NII Holdings,
Inc. 2015 Incentive Compensation Plan
(Full title of the plan)
Shana C. Smith,
Esq.
Vice President and Secretary
c/o NII Holdings, Inc.
1875 Explorer Street, Suite 800
Reston, Virginia 20190
(703) 390-5100
(Name and Address, and Telephone Number, including
Area Code, of Agent For Service)
Indicate by check mark whether the Registrant is a large accelerated
filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated
filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer
¨
Accelerated filer
x
Non-accelerated filer
¨
Smaller reporting company
¨
(Do not check if a smaller reporting company)
CALCULATION
OF REGISTRATION FEE
Title of Each Class of
Securities to be
Registered
Amount to be
Registered
(1)
Proposed Maximum
Offering Price Per
Share
(2)
Proposed Maximum
Aggregate Offering
Price
(2)
Amount of Registration
Fee
Common Stock, par value $0.001
5,263,158
$
20.68
$
108,842,107.44
$
12,647.46
(1)
Represents common stock, par value $0.001 per share, of NII Holdings,
                                         Inc. (the "Registrant") issuable pursuant to the NII Holdings, Inc. 2015
                                         Incentive Compensation Plan (the "Plan") being registered hereon. Pursuant
                                         to Rule 416 under the Securities Act of 1933, as amended (the "Securities Act"),
                                         this registration statement also covers such additional common stock as may become issuable
                                         pursuant to the anti-dilution provisions of the Plan.
(2)
Estimated solely for the purposes of determining the amount of the registration fee, pursuant to Rule 457 under the Securities
Act, and based on the value attributed to the common stock in connection with the Registrant's emergence
from bankruptcy pursuant to its Plan of Reorganization.
EXPLANATORY NOTE
On September 15, 2014, the Registrant and
eight of its U.S. and Luxembourg-domiciled subsidiaries filed voluntary petitions
seeking relief under Chapter 11 of Title 11 of the United States Code (the "Bankruptcy Code") in the United States Bankruptcy Court for the Southern
District of New York (the "Bankruptcy Court"). In addition, following September 15, 2014, five additional
subsidiaries of the Registrant filed voluntary petitions
seeking relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court.
On June 19, 2015, the Bankruptcy Court
entered the Findings of Fact, Conclusions of Law and Order Confirming Pursuant to Section 1129(a) and (b) of the Bankruptcy
Code the First Amended Joint Plan Of Reorganization (the "Plan of Reorganization") Proposed by the Debtors
and Debtors in Possession and the Official Committee of Unsecured Creditors (the "Confirmation Order"), which approved
and confirmed the Plan of Reorganization, as modified by the Confirmation Order.   On June 26, 2015, the Registrant
satisfied the conditions of the Confirmation Order and the Plan of Reorganization became effective (the "Emergence Date").
Unless otherwise noted or suggested by context,
all financial information and data and accompanying financial statements and corresponding notes, as of and prior to the Emergence
Date, as contained or incorporated by reference herein, reflect the actual historical consolidated results of operations and financial
condition of the Registrant for the periods presented and do not give effect to the Plan of Reorganization or any of the transactions
contemplated thereby, including the sale of the Registrant's operations in Mexico that the Registrant completed in April
2015, or the adoption of "fresh-start" accounting. Accordingly, such financial information may not be representative
of the Registrant's performance or financial condition after the Emergence Date. Except with respect to such historical financial
information and data and accompanying financial statements and corresponding notes or as otherwise noted or suggested by the context,
all other information contained herein relates to the Registrant following the Emergence Date.
PART
II
INFORMATION
REQUIRED IN THE REGISTRATION STATEMENT
Item 3.  Incorporation
of Documents by Reference.
The Registrant hereby incorporates by reference
into this registration statement the following documents filed by it with the Securities and Exchange Commission (the "SEC")
(other than portions of those documents that have been "furnished" pursuant to Item 2.02 or Item 7.01 in any Current
Report on Form 8-K or other information deemed to have been "furnished" rather than filed in accordance with the SEC's
rules):
(a)
The Registrant's Annual Report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 10, 2015;
(b)
The Registrant's Quarterly Report on Form 10-Q for the period ended March 31, 2015, filed with the SEC on May 7, 2015;
and
(c)
The Registrant's Current Reports on Form 8-K, filed with the SEC on January 26, March 6, May 6, May 11, and June 22,
2015.
All documents filed by the Registrant with the
SEC pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act")
subsequent to the effective date of this registration statement and prior to the filing of a post-effective amendment that indicates
that all securities offered have been sold or that deregisters all securities then remaining unsold, will be deemed to be incorporated
by reference in this registration statement and to be part hereof from
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the date of filing of such documents. Any statement
contained in any document incorporated or deemed to be incorporated by reference herein will be deemed to be modified or superseded
for purposes of this registration statement to the extent that a statement contained herein or in any other subsequently filed
document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement
so modified or superseded will not be deemed, except as modified or superseded, to constitute a part of this registration statement.
Item 4.  Description
of Securities.
Authorized Capital
The Registrant has the authority to issue a
total of 140,000,000 shares of common stock, par value $0.001 per share, and 10,000,000 shares of preferred stock, par value $0.001 per share.
Voting Rights
Subject to any voting rights granted to preferred
stock that may be outstanding from time to time, each share of the Registrant's common stock shall be entitled to one vote
per share, in person or by proxy, on all matters submitted to a vote for the Registrant's stockholders on which the holders
of common stock are entitled to vote. Except as otherwise required in the Registrant's Amended and Restated Certificate
of Incorporation (the "Charter"), Fifth Amended and Restated Bylaws (the "Bylaws") or by applicable law,
the holders of common stock shall vote together as one class on all matters submitted to a vote of stockholders generally (or if
any holders of shares of preferred stock are entitled to vote together with the holders of common stock, as a single class with
such holders of shares of preferred stock). The Charter and Bylaws do not provide for cumulative voting in connection with the
election of directors, and accordingly, holders of more than 50% of the shares voting will be able to elect all of the directors.
The holders of a majority of the shares of common stock issued and outstanding and entitled to vote thereat, present in person
or represented by proxy, constitute a quorum at all meetings of the stockholders for the transaction of business.
Until the 2017 Annual Meeting, the Registrant's
directors are divided into two classes, designated as Class I and Class II. The initial term for the one
director in Class I will expire at the annual meeting of stockholders to be held in 2016 and thereafter at each annual
meeting of stockholders. The term for all of the other directors, who are in Class II, expires at the annual meeting
of stockholders to be held in 2017. All directors will be elected annually commencing at the annual meeting of stockholders
to be held in 2017.
Dividend Rights
Subject to the preferences applicable to any
preferred stock outstanding at any time, if any, the holders of shares of common stock shall be entitled to receive such dividends
and other distributions in cash, property or shares of stock as may be declared thereon by the Registrant's board
of directors from time to time out of the assets or funds legally available.
Preferred Stock
As of the date hereof, no shares of the Registrant's
preferred stock are outstanding. The Charter provides that the board of directors may, by resolution, establish
one or more classes or series of preferred stock having the number of shares and relative voting rights, designations, dividend
rates, liquidation, and other rights, preferences, and limitations as may be fixed by them without further stockholder approval.
The holders of preferred stock may be entitled to preferences over common stockholders with respect to dividends, liquidation,
dissolution, or the Registrant's winding up in such amounts as are established by the resolutions of the board of
directors approving the issuance of such shares.
The issuance of preferred stock may have the
effect of delaying, deferring or preventing a change in control of the Registrant without further action by the holders and may
adversely affect voting and other rights of holders of common stock. In addition, issuance of preferred stock, while providing
desirable
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flexibility in connection with possible acquisitions
and other corporate purposes, could make it more difficult for a third party to acquire a majority of the outstanding shares of
voting stock.
No Preemptive Rights
No holder of common stock has any preemptive
right to subscribe for any shares of the Registrant's capital stock issued in the future.
Liquidation Rights
If the Registrant is liquidated (either partially
or completely), dissolved or wound up, whether voluntarily or involuntarily, the holders of the common stock shall be entitled
to share ratably in the Registrant's net assets remaining after payment of all liquidation preferences, if any, applicable
to any outstanding preferred stock.
Action by Written Consent
The Charter provides for action by written consent
by holders of the common stock by holders having not less than the minimum number of votes that would be necessary to authorize
or take such action at a meeting.
Delaware Anti-Takeover Law
The Registrant is not subject to Section 203
of the General Corporation Law of the State of Delaware (the "DGCL").
Transfer Agent and Registrar
The transfer agent for the Registrant's
common stock is Computershare Trust Company, N.A.
Listing of Common Stock
The Registrant has applied to list its common
stock on the NASDAQ Global Select Market under the symbol "NIHD."
Item 5.  Interests of
Named Experts and Counsel.
Jones Day, New York, New York, will pass upon
the validity of the common stock offered in this offering, when issued pursuant to the terms and conditions of the Plan.
Item 6.  Indemnification
of Directors and Officers.
The Registrant's Charter and Bylaws provide
for indemnification of officers and directors of the Registrant and certain other persons to the full extent permitted by law,
as now in effect or later amended, against liabilities and expenses incurred by any of them in certain stated proceedings and under
certain stated conditions.
The Registrant may maintain insurance for the
benefit of its directors, officers, employees, agents and certain other persons, insuring such persons against any expense, liability,
or loss, including liability under the securities laws. In addition, the Registrant has entered into indemnification agreements
with its directors and executive officers that require it to indemnify these persons for claims made against each of these persons
because he or she is, was or may be deemed to be a director, officer, employee or agent of the Registrant or any of its subsidiaries.
The Registrant is obligated to pay the expenses of these persons in connection with any claims that are subject to the agreement.
Section 102 of the DGCL allows a corporation
to eliminate the personal liability of directors of a corporation to the corporation or its stockholders for monetary damages for
a breach of fiduciary duty as a director, except where the director breached his duty of loyalty, failed to act in good faith,
engaged in
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intentional misconduct or knowingly violated a
law, authorized the payment of a dividend or approved a stock repurchase in violation of the DGCL or obtained an improper personal
benefit.
Section 145 of the DGCL provides, among
other things, that a corporation may indemnify any person who was or is a party or is threatened to be made a party to any threatened,
pending or completed action, suit or proceeding (other than an action by or in the right of the corporation) by reason of the fact
that the person is or was a director, officer, agent or employee of the corporation or is or was serving at the corporation's
request as a director, officer, agent, or employee of another corporation, partnership, joint venture, trust or other enterprise,
against expenses, including attorneys' fees, judgments, fines and amounts paid in settlement actually and reasonably incurred
by the person in connection with such action, suit or proceeding. The power to indemnify applies (a) if such person is successful
on the merits or otherwise in defense of any action, suit or proceeding, or (b) if such person acted in good faith and in
a manner he or she reasonably believed to be in the best interest, or not opposed to the best interest, of the corporation, and
with respect to any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful. The power
to indemnify applies to actions brought by or in the right of the corporation as well, but only to the extent of defense expenses
(including attorneys' fees but excluding amounts paid in settlement) actually and reasonably incurred and not to any satisfaction
of judgment or settlement of the claim itself, and with the further limitation that in such actions no indemnification shall be
made in the event of any adjudication of negligence or misconduct in the performance of his or her duties to the corporation, unless
the court believes that in the light of all the circumstances indemnification should apply.
Section 174 of the DGCL provides, among
other things, that a director, who willfully or negligently approves of an unlawful payment of dividends or an unlawful stock purchase
or redemption, may be held liable for such actions. A director who was either absent when the unlawful actions were approved or
dissented at the time may avoid liability by causing his or her dissent to such actions to be entered in the books containing the
minutes of the meetings of the board of directors at the time such action occurred or immediately after such absent director receives
notice of the unlawful acts.
Item 7.  Exemption from
Registration Claimed.
Not applicable.
Item 8.  Exhibits.
Exhibit
                                         Number
Exhibit
                                         Description
Filed Herewith
3.1
Amended and Restated Certificate of Incorporation of NII Holdings, Inc.
*
3.2
Fifth Amended and Restated Bylaws of NII Holdings, Inc.
*
4.1
NII Holdings, Inc. 2015 Incentive Compensation Plan
*
4.2
Form of stock certificate for common stock, $0.001 par value per share
*
5.1
Opinion of Jones Day
*
23.1
Consent of KPMG LLP
*
23.2
Consent of PricewaterhouseCoopers LLP
*
23.3
Consent of Jones Day (included in Exhibit 5.1)
*
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Item 9.  Undertakings.
(a)          The undersigned Registrant hereby undertakes:
(1)     To file, during any period
in which offers or sales are being made, a post-effective amendment to this registration statement:
(i)     To include any prospectus
required by Section 10(a)(3) of the Securities Act;
(ii)    To reflect in the prospectus
any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment
thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration
statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of
securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum
offering range may be reflected in the form of a prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the
changes in volume and price represent no more than 20 percent change in the maximum aggregate offering price set forth in the "Calculation
of Registration Fee" table in the effective registration statement;
(iii)    To include any material
information with respect to the plan of distribution not previously disclosed in the registration statement or any material change
to such information in the registration statement;
provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not
apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed
with or furnished to the SEC by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated
by reference in the registration statement.
(2)     That, for the purpose of determining
any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement
relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.
(3)     To remove from registration
by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
(b)    The undersigned Registrant hereby undertakes
that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant
to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual
report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be
deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial bona fide offering thereof.
(h)     Insofar as indemnification for liabilities
arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to
the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the SEC such indemnification is
against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification
against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or
controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel
the matter has been settled by controlling precedent, submit to a
court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the
Securities Act and will be governed by the final adjudication of such issue.
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SIGNATURES
Pursuant to the requirements of the Securities
Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form
S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in
the City of Reston, Commonwealth of Virginia, on this 26
th
day of June 2015.
NII HOLDINGS, INC.
By:
/s/ Shana C. Smith
Name: Shana C. Smith
Title:   Vice President and Secretary
Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed by the following persons in the capacities indicated. In addition, each
person whose signature appears below constitutes and appoints Steven M. Shindler, Shana C. Smith and Daniel E. Freiman, and each
of them singly, his or her true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution, for
him or her and in his or her name, place and stead, in any and all capacities, to sign any and all amendments (including post-effective
amendments) to this registration statement and any and all additional registration statements pursuant to Rule 462(b) of
the Securities Act and to file the same, with all exhibits thereto, and all other documents in connection therewith, with the
SEC, granting unto each said attorney-in-fact and agents full power and authority to do and perform each and every act in person,
hereby ratifying and confirming all that said attorney-in-fact and agents full power and authority to do and perform each and
every act in person, hereby ratifying and confirming all that said attorney-in-fact and agents or either of them or their or his
or her substitute or substitutes may lawfully do or cause to be done by virtue hereof.
Signature
Title
Date
/s/ Steven M. Shindler
Chief Executive Officer
June 26, 2015
Steven M. Shindler
(Principal Executive Officer)
/s/ Juan R. Figuereo
Chief Financial Officer
June 26, 2015
Juan R. Figuereo
(Principal Financial Officer)
/s/ Timothy M. Mulieri
Vice President and Controller
June 26, 2015
Timothy M. Mulieri
(Principal Accounting Officer)
/s/ Kevin L. Beebe
Director
June 26, 2015
Kevin L. Beebe
/s/ James V. Continenza
Director
June 26, 2015
James V. Continenza
/s/ Howard S. Hoffmann
Director
June 26, 2015
Howard S. Hoffmann
/s/ Ricardo Knoepfelmacher
Director
June 26, 2015
Ricardo Knoepfelmacher
/s/ Christopher T. Rogers
Director
June 26, 2015
Christopher T. Rogers
EXHIBIT INDEX
Exhibit Number
Exhibit
                                         Description
Filed Herewith
3.1
Amended and Restated Certificate of Incorporation of NII Holdings, Inc.
*
3.2
Fifth Amended and Restated Bylaws of NII Holdings, Inc.
*
4.1
NII Holdings, Inc. 2015 Incentive Compensation Plan
*
4.2
Form of stock certificate for common stock, $0.001 par value per share
*
5.1
Opinion of Jones Day
*
23.1
Consent of KPMG LLP
*
23.2
Consent of PricewaterhouseCoopers LLP
*
23.3
Consent of Jones Day (included in Exhibit 5.1)
*