Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  Butvilofsky Ruben
 2. Date of Event Requiring Statement (Month/Day/Year)
02/11/2008		 3. Issuer Name and Ticker or Trading Symbol
NII HOLDINGS INC [NIHD]
(Last)
(First)
(Middle)
10700 PARKRIDGE BLVD., SUITE 600		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
President, Nextel Argentina
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

RESTON, VA 20191		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock (1) 10,000
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (right to purchase) (2) 04/28/2008 04/28/2014 Common Stock 15,000 $ 18.97 D  
Stock Option (right to purchase) (3) 04/27/2008 04/27/2015 Common Stock 40,000 $ 26.2 D  
Stock Option (right to purchase) (4) 04/26/2007 04/26/2016 Common Stock 40,000 $ 60.77 D  
Stock Option (right to purchase) (5) 04/25/2008 04/25/2017 Common Stock 35,000 $ 78.3 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Butvilofsky Ruben
10700 PARKRIDGE BLVD.
SUITE 600
RESTON, VA 20191		       President, Nextel Argentina  

Signatures

Gary D. Begeman Attorney-in-Fact 02/18/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Mr. Ruben Butvilofsky was elected an executive officer of NII Holdings, Inc. on 02/11/2008. The restricted stock was granted on 04/26/2006 and vests on the 3rd anniversary of the grant.
(2) Option vests in four installments: 25% on April 28, 2005; 25% on April 28, 2006; 25% on April 28, 2007; and 25% on April 28, 2008.
(3) The option vests in four installments: 25% on April 27, 2006; 25% on April 27, 2007; 25% on April 27, 2008; and 25% on April 27, 2009.
(4) The option vests in four installments: 25% on April 26, 2007; 25% on April 26, 2008; 25% on April 26, 2009; and 25% on April 26, 2010.
(5) The option vests in four installments: 25% on April 25, 2008; 25% on April 25, 2009; 25% on April 25, 2010; and 25% on April 25, 2011.

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