Cowen analyst Lance Vitanza said yesterday's rally in NII Holdings (NIHD) shares may be attributable to comments from the CFO of TIM Brasil (TSU), who talked up likely consolidation. Vitznza, who thinks a takeout of NII Holdings is likely later this year or early next, puts TIM at the top of his list of potential acquirers, he tells investors in a research note. The value of the company's most-valuable spectrum suggests a "mid-teens share price" in even a non-competitive auction and the price "could quickly go to the 20s" should multiple bidders emerge, contends the analyst.