While Sprint-Nextel ( S , quote ) continues to plummet even with the collapsed sale of T-Mobile to AT&T ( T , quote ) by Deutsche Telekom ( DTEGY , quote ), Nextel lives on in South America with heavy insider buying at NII Holdings ( NIHD , quote ).

NII Holdings (NIHD) provides wireless and push-to-talk two way radio service to Nextel customers in Mexico, Brazil, Argentina, Peru and Chile.

Nextel Argentina's president, Ruben Butvilofsky, acquired 15,275 shares for $20.89 a share, roughly doubling his position. Other big buyers included the CFO,  the general counsel, and the president of Nextel Brazil.

Legendary investor Peter Lynch noted that there are many reasons for insiders to sell.  These include buying a home, paying tuition, etc. But there is only one reason for insiders to buy: they expect the price of the stock to rise.

The financials of the company justify the bullishness of the insiders.  NII Holdings has a price-to-sales ratio of 0.25.  The price-to-earnings ratio is just 11.92, and expected to fall from that to just 10.66 over the next year.

Institutions own almost 100% of NII Holdings, which is very bullish.

While the travails of Sprint Nextel (S) and Deutsche Telekom (DTEGY) have been detailed in previous articles on www.emergingmoney.com , the mean analyst target price for NII Holdings over the next year is $39.31, up from around $21.10.