Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: NII Holdings (Nasdaq: NIHD) shares fell 10% this morning on news that Grupo Televisa (NYSE: TV) is backing out on a deal with the company.

So What: Grupo Televisa had agreed to purchase the Nextel Mexico arm of NII Holdings in a deal announced earlier this year. Grupo Televisa said it wished to focus on its television business instead of expanding into telecommunications at this time.

Now What: This deal falling through is a short-term loss for NII but the company will be able to refocus on operating assets throughout Latin America. This could be a buying opportunity for investors looking for a dip in shares. NII's business is still growing and there are plenty of opportunities in Latin America.

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