1) How would you describe NII Holdings and Nextel Peru's recent competitive and operational performance, and how do you think it affected the purchase price?

2) To what extent do you think markets are globally integrated or segmented, and to what extent should d'Anconia be concerned with estimating a country risk premium? what would be your estimate of such a premium?

3) How, if at all, should d'Anconia use the practitioner approaches to estimate the required return on assets?

4) What is Nextel Peru's estimated asset beta, and what is the estimated required return on assets?

5) What is the estimated range for long-term growth rate and free cash flow, assuming Nextel Peru is a mature firm? Your analysis can assume the cost of capital you developed in question 4. Considering yoru estimate range for long-term growth, FCF, and cost of capital, do you think the $400 million purchase price is fair?