Document:

<PAGE>
                                                                  Exhibit 10.39

                             UNCONDITIONAL GUARANTY

      THIS UNCONDITIONAL GUARANTY (the "Guaranty") is made as of April 23, 2004,
by each of the entities that is a party to this Guaranty or that hereafter
becomes a party to this Guaranty by executing and delivering a separate joinder
agreement (collectively, the "Guarantor"), in favor of MOTOROLA , INC., a
Delaware corporation, in its capacity as agent for itself and the other Motorola
Parties (in such capacity, "Motorola").

                             Preliminary Statements

      (a) Brightstar Corp., a Delaware corporation ("Brightstar"), is a party to
the Payment Terms Agreement referred to below.

      (b) The Guarantor is a Foreign Subsidiary (as defined below).

      (c) It is a condition to the obligations of Motorola Parties under the
Payment Terms Agreement and the other Brightstar Documents that the Guarantor
enter into this Guaranty, which the Guarantor is willing to do.

      NOW, THEREFORE, in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Guarantor (jointly and severally) agrees as follows:

      1. Definitions. All capitalized terms used but not defined in this
Guaranty have the meanings given in the Amended and Restated Payment Terms
Agreement, dated as of April 23, 2004, by and among Motorola, Inc. (in its
capacity as agent for itself and the other Motorola Parties), Brightstar Corp.
and the other persons and entities that are parties thereto as the same may be
amended, restated, supplemented or otherwise modified from time to time, (the
"Payment Terms Agreement"). In addition, the following terms have the following
meanings as used in this Guaranty:

      "Foreign Subsidiary" means any direct or indirect Subsidiary of Brightstar
now or hereafter created and that is organized outside of the United States of
America and its territories (including, without limitation, Brightstar Puerto
Rico, Inc.), together with any successors and assigns of such Subsidiaries.

      "Foreign Subsidiary Obligations " means all obligations of any of the
Foreign Subsidiaries to any of the Motorola Parties, however created, arising or
evidenced, whether direct or indirect, absolute or contingent, now existing or
hereafter arising or acquired, including, without limitation: (a) all
obligations of any of the Foreign Subsidiaries under any of the Brightstar
Documents; (b) the payment of any invoices that any of the Motorola Parties has
rendered or may render in the future against any of the Foreign Subsidiaries;
(c) the payment of any contracts or other evidences of indebtedness that any of
the Foreign Subsidiaries may deliver to any of the Motorola Parties for goods or
services; (d) the payment of any applicable taxes of any kind that may arise out
of or relate to clause (a), (b) or (c) that may be levied against any of the
Motorola Parties by a proper taxing authority; (e) the payment of any interest,
penalty or late charge that may arise out of or relate to the failure of any of
the Foreign Subsidiaries to pay any

             Unconditional Guaranty (Foreign Subsidiaries) - Page 1

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of the Motorola Parties, whether (i) assessed by any of the Motorola Parties
against any of the Foreign Subsidiaries as part of the normal collection
practices of any of the Motorola Parties; or (ii) assessed by others against any
of the Motorola Parties; (f) the payment of principal, interest and any other
amounts due or to become due, whether by acceleration or otherwise, under all
other obligations of any of the Foreign Subsidiaries to any of the Motorola
Parties, and (g) the payment of any costs or expenses incurred by any of the
Motorola Parties in collecting all or any portion of the foregoing or in
obtaining, preserving, perfecting and enforcing any security interest granted by
any of the Foreign Subsidiaries or in maintaining, preserving and collecting the
property subject to any such security interest.

      2. Guaranty. The Guarantor hereby jointly and severally unconditionally
guarantees the punctual payment when due, whether at stated maturity, by
acceleration or otherwise, of all of the Foreign Subsidiary Obligations. The
amount that the Guarantor is obligated to pay hereunder is unlimited. Further,
whether or not suit is brought by Motorola to acquire possession of any
collateral of the Guarantor or to enforce collection of any unpaid balance(s)
under any of the Brightstar Documents against any of the Foreign Subsidiaries,
the Guarantor expressly hereby agrees to pay all legal expenses and the
reasonable attorney's fees (including those relative to appellate proceedings,
if any) actually incurred by Motorola in enforcement of any of the Foreign
Subsidiary Obligations or any of the Brightstar Documents against any of the
Foreign Subsidiaries. For the avoidance of doubt, this Guaranty does not cover
the obligations of any of the Brightstar Parties that is not a Foreign
Subsidiary (including, without limitation, any obligations of Brightstar).

      3. Other Documents. The Guarantor has made other representations and
warranties to Motorola and has entered into various other agreements with
Motorola including but not limited to those set forth in the Brightstar
Documents to which the Guarantor is a party. The Guarantor acknowledges that the
provisions of the Foreign Subsidiary Security Agreement under the heading
"Bankruptcy" are incorporated herein by reference and that each reference to
the "Agreement" in the provisions of the Foreign Subsidiary Security Agreement
under the heading "Bankruptcy" shall also be deemed to be a reference to this
Guaranty.

      4. Unconditional Nature of Guaranty. This Guaranty is and shall remain an
unconditional and continuing guaranty of payment and not of collection, shall
remain in full force and effect irrespective of any interruption(s) in the
business or other dealings and relations of any of the Foreign Subsidiaries with
any of the Motorola Parties and shall apply to and guarantee the due and
punctual payment of all Foreign Subsidiary Obligations. To that end, the
Guarantor hereby expressly waives any right to require Motorola to bring any
action against any of the Foreign Subsidiaries or any other person(s) or to
require that resort be had to any security or to any balance(s) of any deposit
or other account(s) or debt(s) or credit(s) on the books of any of the Motorola
Parties in favor of any of the Foreign Subsidiaries or any other person(s). The
Guarantor acknowledges that its liabilities and obligations hereunder are
primary rather than secondary. To that end and without limiting the generality
of the foregoing, the Guarantor herewith expressly waives any rights it
otherwise might have had under provisions of the law of the State of Florida to
require Motorola to attempt to recover against any of the Foreign Subsidiaries
and/or to realize upon any securities or collateral security which Motorola or
any of the Motorola Parties holds for the Foreign Subsidiary Obligations.
Notwithstanding the satisfaction or performance of the Foreign Subsidiary
Obligations, the Guarantor's liability shall

             Unconditional Guaranty (Foreign Subsidiaries) - Page 2

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continue to exist for so long as the satisfaction of the Foreign Subsidiary
Obligations could be set aside or such Foreign Subsidiary Obligations could
otherwise be reinstated under bankruptcy, insolvency, fraudulent conveyance,
debtor relief, or other similar laws of any Federal, State of other competent
jurisdiction.

      5. Timeliness. TIME IS OF THE ESSENCE HEREOF.

      6. Set-off. If any process is issued or ordered to be served upon any of
the Motorola Parties, seeking to seize any right and/or interest of the
Guarantor or any of the Foreign Subsidiaries in any amounts owed by any of the
Motorola Parties, if any, the balance(s) owed shall immediately be deemed to
have been and shall be set-off against any and all Foreign Subsidiary
Obligations and/or all obligations and liabilities of the Guarantor hereunder,
as of the time of the issuance of any such writ or process; whether or not the
Guarantor, the Foreign Subsidiaries and/or any of the Motorola Parties shall
then have been served therewith.

      7. Application of Payments. All moneys available to and/or received by
Motorola for application toward payment of (or reduction of) the Foreign
Subsidiary Obligations may be applied by Motorola in such manner, and
apportioned in such amount(s) and at such time(s), as Motorola, in its sole
discretion, may deem suitable or desirable.

      8. Security Interest. As security for any and all liabilities of the
Guarantor hereunder now existing or hereinafter arising, or otherwise, the
Guarantor hereby grants Motorola a security interest in any and all moneys or
other property, i.e. goods and merchandise, as well as all documents relative
thereto; also, funds, investment securities, chooses in action and any and all
other forms of property, whether real, personal or mixed, and any right, title,
or interest of the Guarantor therein or thereto and/or the proceeds thereof,
which have been or may hereafter be left with any of the Motorola Parties (or
with any agent or other third party acting on behalf of any of the Motorola
Parties) by or for the account or credit of the Guarantor, including (without
limitation of the foregoing), any property in which the Guarantor may have any
interest.

      9. Perfection Irrelevant. The Guarantor agrees that its liability
hereunder shall not be diminished by any failure on the part of Motorola to
perfect (by filing, recording, or otherwise) any security interest(s) it may
have in any property securing this Guaranty and/or the Foreign Subsidiary
Obligations secured hereby and hereunder.

      10. Consents and Waivers. The Guarantor further hereby consents and agrees
that Motorola may at any time, or from time to time, in its sole discretion: (a)
extend or change the time of payment, and/or the manner, place or terms of
payment of any or all of the Foreign Subsidiary Obligations; (b) exchange,
release and/or surrender all or any of the collateral security, or any part(s)
thereof, by whomsoever deposited, which is or may hereafter be held by it in
connection with all or any of the Foreign Subsidiary Obligations and/or any
liabilities or obligations of the Guarantor hereunder; (c) sell or otherwise
dispose of an/or purchase all or any of such collateral at public or private
sale, or to or through any Investment Securities Broker, and after deducting all
costs and expenses of every kind for collection, preparation for sale, sale or
delivery, the net proceeds of any such sale(s) or other disposition may be
applied by Motorola upon all or any of the Foreign Subsidiary Obligations; (d)
add (or fail to add) additional Foreign Subsidiaries as a Guarantor under this
Guaranty by one or more separate joinder agreements; (e)

             Unconditional Guaranty (Foreign Subsidiaries) - Page 3

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release any endorser of the Foreign Subsidiary Obligations or any guarantor
thereof, with or without consideration and without notice to or further consent
from the Guarantor and such release shall not in any way affect the liability of
the undersigned; (f) settle or compromise with any of the Foreign Subsidiaries
(and/or any other person(s) liable thereon) any and all of the Foreign
Subsidiary Obligations (including but not limited to, any insurance applicable
to the Foreign Subsidiary Obligations) and/or subordinate the payment of all or
any part of same, to the payment of any other debts or claims, which may at any
time(s) be due or owing to Motorola, any of the Motorola Parties and/or any
other person(s); (g) alter, extend, change, modify, release, waive or cancel any
covenant, agreement, condition, obligation or provision contained in any or all
Brightstar Documents; all in such manner and upon such terms as Motorola may
deem proper and/or desirable, and without notice to or further assent from the
Guarantor, it being agreed that the Guarantor shall be and remain bound upon
this Guaranty, irrespective of the existence, value or condition of any
collateral; and notwithstanding any such change, exchange, settlement,
compromise, surrender, release, foreclosure, sale or other disposition,
application, renewal or extension and notwithstanding also that the Foreign
Subsidiary Obligations may at any time(s) exceed the aggregate principal sum
hereinabove prescribed (if any such limiting sum appears). Further, this
Guaranty shall not be construed to impose any obligations on Motorola or any of
the Motorola Parties to extend or continue to permit extended payment terms or
otherwise deal with any of the Brightstar Parties at any time.

      11. Deemed Authority. This Guaranty covers all Foreign Subsidiary
Obligations purporting to be created or undertaken on behalf of any of the
Foreign Subsidiaries by any officer, partner, manager or agent of such
organizations, without regard to the actual authority of any such officer,
partner, manager or agent, whether or not corporate resolutions, proper or
otherwise, are given by any Foreign Subsidiary to Motorola or any of the
Motorola Parties, and/or whether or not such purported organizations are legally
chartered or organized.

      12. Subrogation and Subordination. In consideration of Motorola's
permitting extended payment terms by the Brightstar Parties, which continued
right is subject to Motorola's sole discretion and subject to the terms of the
Payment Terms Agreement and the other Brightstar Documents, the Guarantor
hereby agrees:

            (a) To subordinate, and by this Guaranty does subordinate, all debts
and other obligations now or hereafter owed by any of the Brightstar Parties to
the Guarantor to any and all debts of any of the Brightstar Parties to any
Motorola Party now or hereafter existing while this Guaranty is in effect.

            (b) Every note evidencing any part of the subordinated debt and
other obligations and every ledger page relating thereto will bear a legend,
which will indicate this subordination.

            (c) Except to the extent permitted by the Payment Terms Agreement,
the Guarantor will not request or accept payment of any principal of, interest
on or security for, any part of the subordinated debt or other obligations (and
will not claim any offset or other reduction of the Guarantor's obligations
hereunder because of any such subordinated debt or other obligation), and if all
or part of it should be paid to the Guarantor, through error or otherwise, the
Guarantor will immediately forward every such payment to Motorola in the form

              Unconditional Guaranty (Foreign Subsidiaries) -Page 4

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received, properly endorsed to the order of Motorola, to apply on any debt or
other obligations then owing to any Motorola Party by any of the Brightstar
Parties. This subordination shall continue in full force and effect as long as
this Guaranty is in effect.

            (d) The Guarantor further agrees that it will not assert any right
to which it may be or become entitled, whether by subrogation, contribution or
otherwise against any of the Brightstar Parties or any of their respective
properties, by reason of the performance of the undersigned of its obligations
under this Guaranty, except after payment in full of all amounts (including cost
and expenses) which may become payable in respect of or under the Brightstar
Obligations.

      13. Successors and Assigns. This Guaranty shall be binding upon the
Guarantor and the successors and assigns of the Guarantor, and it shall inure to
the benefit of, and be enforceable by, Motorola and its successors, transferees
and assigns.

      14. Additional Definitions. Further all terms or expressions contained
herein that are defined in the Uniform Commercial Code of the State of Florida
shall be the same meaning herein as in said Code.

      15. No Waiver. No waiver by Motorola of any default(s) by the Guarantor or
any other party shall operate as a waiver of any other default or of the same
default on a future occasion. Further, use of the masculine or neuter pronoun
herein shall include the masculine, feminine and neuter, and also the plural.
The term "the Guarantor" as used herein, shall mean the "the Guarantors and each
of them." Motorola, or any other holder hereof, may correct patent errors in
this Guaranty.

      16. Waiver of Formalities. The Guarantor hereby waives (i) notice of
acceptance of this Guaranty; (ii) notice(s) of extensions of credit and/or
continuations of credit extensions to any of the Foreign Subsidiaries by
Motorola; (iii) notice(s) of entering into and engaging in business transactions
and/or contractual relationships and any other dealings between any of the
Foreign Subsidiaries and Motorola, (iv) presentment and/or demand for payment of
any of the Foreign Subsidiary Obligations; (v) protest or notice of dishonor or
default to the Guarantor or to any other person with respect to any of the
Foreign Subsidiary Obligations; (vi) any demand for payment under this Guaranty;
and (vii) to the extent such benefit can be waived, the benefit of other laws
purporting to limit the enforcement of an obligation of the Guarantor.

      17. Usury. Anything contained herein to the contrary notwithstanding, if
for any reason the effective rate of interest on any of the Foreign Subsidiary
Obligations should exceed the maximum lawful rate, the effective rate of such
Foreign Subsidiary Obligations shall be deemed reduced to and shall be such
maximum lawful rate, and any sums of interest which have been collected in
excess of such maximum lawful rate shall be applied as credit against the unpaid
principal balance due hereunder.

      18. Independent Counsel. The Guarantor hereby acknowledges that Motorola
has suggested that the Guarantor obtain independent legal counsel to represent
their interests in the transaction evidenced hereby and the Brightstar
Documents, and the Guarantor have elected to retain independent counsel to
represent them in those transactions.

             Unconditional Guaranty (Foreign Subsidiaries) - Page 5

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      19. Marshalling. The Guarantor waives any right or claim of right to cause
a marshalling of any assets of any of the Foreign Subsidiaries or the assets of
any other party now or hereafter held as security for the Foreign Subsidiary
Obligations, and waives the benefit of any statute of limitations affecting the
liability of the Guarantor hereunder, to the extent permitted by law.

      20. Remedies on Default. Upon the occurrence of any Default or Event of
Default, all of the Foreign Subsidiary Obligations shall immediately be due and
payable without notice. Further, Motorola shall then have all of the rights and
remedies granted hereunder, all of the rights and remedies of a secured party
and/or holder-in-due-course under the Uniform Commercial Code and other Laws of
the State of Florida.

      21. Receipt of Brightstar Documents. The Guarantor hereby acknowledges and
agrees to having received and reviewed a copy of all of the Brightstar Documents
executed to date and is familiar with the various representations, warranties,
covenants and obligations with respect to the Guarantor contained in the
Brightstar Documents. The Guarantor hereby acknowledges that failure to timely
comply with each and every of the covenants and obligations contained in the
Brightstar Documents that pertain or relate to the Guarantor, including with
limitation, the covenants regarding delivery of financial statements of the
Guarantor to Motorola, will result in an event of default thereunder entitling
Motorola to the rights and remedies contained therein, including without
limitation, acceleration of the Foreign Subsidiary Obligations.

      22. Preservation and Limitation of Remedies. Motorola shall have the right
to proceed in any court of proper jurisdiction or by self-help to exercise or
prosecute the following remedies, as applicable: (i) all rights to foreclose
against any real or personal property or other security by exercising a power of
sale granted under the Brightstar Documents or under applicable law or by
judicial foreclosure and sale, including a proceeding to confirm the sale; (ii)
all rights of self-help including peaceful occupation of real property and
collection of rents, set-off, and peaceful possession of personal property;
(iii) obtaining provisional or ancillary remedies including injunctive relief,
sequestration, garnishment, attachment, appointment of receiver and filing an
involuntary bankruptcy proceeding; and (iv) when applicable, a judgment by
confession of judgment.

      23. Limits on Damages. The Guarantor and Motorola agree that they shall
not have a remedy of punitive or exemplary damages against the other in any
dispute and hereby waive any right or claim to punitive or exemplary damages
they have now or which may arise in the future in connection with any dispute.

      24. Notices. Any notice, demand or other communications required to or
permitted to be given or made hereunder in writing, shall be deemed given or
made when (a) delivered in person; (b) five (5) days after such communication is
posted in the mails; or (c) one (1) day after such communication is sent by a
nationally recognized overnight courier service. Such communications shall be
addressed as follows:

             Unconditional Guaranty (Foreign Subsidiaries) - Page 6

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       If to Motorola to:                Motorola, Inc
                                         798 International Parkway
                                         Sunrise, Florida 33325
                                         Attn: PCS Latin America Director of
                                               Finance

       With a copy to:                   Shook, Hardy & Bacon L.L.P.
                                         Miami Center, Suite 2400
                                         201 South Biscayne Boulevard
                                         Miami, Florida 33131-4332
                                         Attn: John M. Barkett, Esq.

       If to the Guarantor to:           [Specify the particular Guarantor(s)]
                                         c/o Brightstar Corp.
                                         2010 N. W. 84th Avenue
                                         Miami, Florida 33122
                                         Attn: Raul M. Claure

       With a copy to:                   Kirkpatrick & Lockhart LLP
                                         Miami Center, 20th Floor
                                         201 South Biscayne Boulevard
                                         Miami, Florida 33131
                                         Attn: Clayton E. Parker, Esq.

      or at such other address or addresses as the party addressed may from time
to time designate in writing.

      25. Governing Law. This Guaranty will be deemed made in and governed by
the laws of the State of Florida, without regard to laws regarding conflicts of
law.

      26. Severability. If any term or provision of this Guaranty should be
declared invalid by a court of competent jurisdiction, the remaining terms and
provisions will be unimpaired and the invalid term or provision will be replaced
by such valid term or provision as comes closest to the intention underlying the
invalid term or provision.

      27. WAIVER OF JURY TRIAL. THE GUARANTOR AND MOTOROLA HEREBY KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT EACH MAY HAVE TO A TRIAL BY JURY
IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN
CONNECTION WITH THIS GUARANTY OR ANY OTHER AGREEMENT AMONG ANY OF THE BRIGHTSTAR
PARTIES, ON ONE HAND, AND ANY MOTOROLA PARTY ON THE OTHER HAND, OR ANY COURSE OF
CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF
EACH PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE GUARANTOR AND
MOTOROLA ENTERING INTO THIS AGREEMENT. THE PROVISIONS OF THIS ARTICLE HAVE BEEN
FULLY NEGOTIATED BY THE PARTIES HERETO AND THESE PROVISIONS SHALL BE SUBJECT TO
NO EXCEPTIONS. NEITHER THE GUARANTOR NOR MOTOROLA HAS IN ANY WAY AGREED WITH OR
REPRESENTED TO ANY OTHER PARTY THAT THE

             Unconditional Guaranty (Foreign Subsidiaries) - Page 7
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PROVISIONS OF THIS ARTICLE WILL NOT BE ENFORCED IN ALL INSTANCES. NEITHER THE
GUARANTY NOR MOTOROLA SHALL SEEK TO CONSOLIDATE ANY SUCH ACTION, IN WHICH A JURY
TRIAL HAS BEEN WAIVED, WITH ANY OTHER ACTION IN WHICH A JURY TRIAL HAS NOT BEEN
OR CANNOT BE WAIVED.

      28. Waiver of Plea or Jurisdictions or Venue. Because the Guarantor and
Motorola each have significant interest in consistent interpretation of this
Guaranty, the Guarantor designates Miami, Florida as the sole forum for
resolution of any dispute arising hereunder. The Guarantor hereby waives any
plea of jurisdiction or venue as not having a place of business in Miami-Dade
County, Florida, and hereby specifically authorizes any action brought upon the
enforcement of this Guaranty by Motorola to be instituted and prosecuted in
either the Circuit Court of Miami-Dade County, Florida, or in the United States
District Court for the Southern District of Florida, at the election of
Motorola. The Guarantor further agrees that a final judgment in any action or
proceeding will be conclusive and may be enforced against it in any other
jurisdiction or in any other manner provided by law.

      29. Miscellaneous. This Guaranty may be validly executed and delivered by
fax or other electronic transmission and in one or more counterpart signature
pages. This Guaranty shall be construed without presumption for or against the
drafter of all or any part hereof. Section headings are for convenience of
reference only and shall not limit the scope of any Section. All factual
recitals and other matters set forth in the Preliminary Statements to this
Guaranty shall constitute a part of this Guaranty. Each Guarantor is jointly and
severally liable for all obligations under this Guaranty (including, without
limitation, payment of all of the Foreign Subsidiary Obligations), whether or
not the specific provision giving rise to such obligations expressly provides
for joint and several liability.

                          [Signature page(s) to follow]

             Unconditional Guaranty (Foreign Subsidiaries) - Page 8
<PAGE>

      IN WITNESS WHEREOF, the undersigned has executed and delivered this
Guaranty as of the date first above written.

                                       BRIGHTSTAR DE ARGENTINA, S.A.

                                       BY: /s/ R. MARCELO CLAURE
                                           -------------------------------------
                                       NAME: R. MARCELO CLAURE
                                       TITLE: PRESIDENT

                                       BRIGHTSTAR DO BRASIL, LTDA.

                                       BY: /s/ R. MARCELO CLAURE
                                           -------------------------------------
                                       NAME: R. MARCELO CLAURE
                                       TITLE: PRESIDENT

                                       BRIGHTSTAR CORP. CHILE, LTDA.

                                       BY: /s/ R. MARCELO CLAURE
                                           -------------------------------------
                                       NAME: R. MARCELO CLAURE
                                       TITLE: PRESIDENT

                                       BRIGHTSTAR DOMINICANA, S.A.

                                       BY: /s/ R. MARCELO CLAURE
                                           -------------------------------------
                                       NAME: R. MARCELO CLAURE
                                       TITLE: PRESIDENT

                                       BRIGHTSTAR ECUADOR, LTDA.

                                       BY: /s/ R. MARCELO
                                           -------------------------------------
                                       NAME: R. MARCELO
                                       TITLE: PRESIDENT

                                       BRIGHTSTAR EL SALVADOR S.A. DE C.V.

                                       BY: /s/ R. MARCELO
                                           -------------------------------------
                                       NAME: R. MARCELO
                                       TITLE: PRESIDENT

                                       BRIGHTSTAR GUATEMALA , C.A.

                                       BY: /s/ R. MARCELO
                                           -------------------------------------
                                       NAME: R. MARCELO
                                       TITLE: PRESIDENT

            Unconditional Guaranty (Foreign Subsidiaries) - Page 9
<PAGE>

                                       BRIGHTSTAR DE MEXICO S.A. DE C.V.

                                       BY: /s/ R. MARCELO CLAURE
                                           -------------------------------------
                                       NAME: R. MARCELO CLAURE
                                       TITLE: PRESIDENT

                                       BRIGHTSTAR DE PARAGUAY , S. DE R.L.

                                       BY: /s/ R. MARCELO CLAURE
                                           -------------------------------------
                                       NAME: R. MARCELO CLAURE
                                       TITLE: PRESIDENT

                                       BRIGHTSTAR PERU, S.R.L.

                                       BY: /s/ R. MARCELO CLAURE
                                           -------------------------------------
                                       NAME: R. MARCELO CLAURE
                                       TITLE: PRESIDENT

                                       BRIGHTSTAR PUERTO RICO, INC.

                                       BY: /s/ R. MARCELO CLAURE
                                           -------------------------------------
                                       NAME: R. MARCELO CLAURE
                                       TITLE: PRESIDENT

                                       BRIGHTSTAR URUGUAY , S.A.

                                       BY: /s/ R. MARCELO CLAURE
                                           -------------------------------------
                                       NAME: R. MARCELO CLAURE
                                       TITLE: PRESIDENT

                                       BRIGHTSTAR DE VENEZUELA , C.A.

                                       BY: /s/ R. MARCELO CLAURE
                                           -------------------------------------
                                       NAME: R. MARCELO CLAURE
                                       TITLE: PRESIDENT

                                       BRIGHTSTAR PROVEEDOR DE SOLUCIONES
                                       TECNOLOGICAS S.A.

                                       BY: /s/ R. MARCELO CLAURE
                                           -------------------------------------
                                       NAME: R. MARCELO CLAURE
                                       TITLE: PRESIDENT

            Unconditional Guaranty (Foreign Subsidiaries) - Page 10
<PAGE>

                                       SOLUCIONES INTELIGENTES PARA EL MERCADO
                                       MOVIL, S.A. DE C.V.

                                       BY: /s/ R. MARCELO CLAURE
                                           -------------------------------------
                                       NAME: R. MARCELO CLAURE
                                       TITLE: PRESIDENT

            Unconditional Guaranty (Foreign Subsidiaries) - Page 11
<PAGE>

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. MARCELO CLAURE, who in his/her capacity as
president of BRIGHTSTAR DE ARGENTINA, S.A., a entity organized under the  laws
of Argentina, and who is personally known to me or has produced
------------------- as identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. Marcelo Claure, who in his/her capacity as
President of BRIGHTSTAR DO BRASIL, LTDA., a entity organized under the laws of
Brazil, and who is personally known to me or has produced ------------------- as
identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. MARCELO CLAURE, who in his/her capacity as
President of BRIGHTSTAR CORP. CHILE, LTDA., a entity organized under the laws of
Chile, and who is personally known to me or has produced ------------------- as
identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

            Unconditional Guaranty (Foreign Subsidiaries) - Page 12
<PAGE>

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. MARCELO CLAURE, who in his/her capacity as
PRESIDENT of BRIGHTSTAR DOMINICANA, S.A., a entity organized under the laws of
Dominican Republic, and who is personally known to me or has produced
-------------------- as identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. Marcelo Claure, who in his/her capacity as
President of BRIGHTSTAR ECUADOR, LTDA., a entity organized under the laws of
Ecuador, and who is personally known to me or has produced --------------------
as identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. Marcelo Claure, who in his/her capacity as
President of BRIGHTSTAR EL SALVADOR S.A. DE C.V., a entity organized under the
laws of El Salvador, and who is personally known to me or has produced
-------------------- as identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

            Unconditional Guaranty (Foreign Subsidiaries) - Page 13
<PAGE>

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by  R. Marcelo Claure, who in his/her capacity as
President of BRIGHTSTAR GUATEMALA, C.A., a entity organized under the laws of
Guatemala, and who is personally known to me or has produced
-------------------- as identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. Marcelo Claure, who in his/her capacity as
President of BRIGHTSTAR DE MEXICO S.A. DE C.V., a entity organized under the
laws of Mexico, and who is personally known to me or has produced
----------------------- as identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. Marcelo Claure, who in his/her capacity as
President of BRIGHTSTAR DE PARAGUAY, S. DE R.L., a entity organized under the
laws of Paraguay, and who is personally known to me or has produced
---------------------- as identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

            Unconditional Guaranty (Foreign Subsidiaries) - Page 14
<PAGE>

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. Marcelo Claure, who in his/her capacity as
President of BRIGHTSTAR PERU, S.R.L., a entity organized under the laws of Peru,
and who is personally known to me or has produced -------------------- as
identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. Marcelo Claure, who in his/her capacity as
President of BRIGHTSTAR PUERTO RICO, INC., a entity organized under the laws of
the Commonwealth of Puerto Rico, and who is personally known to me or has
produced -------------------- as identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. Marcelo Claure, who in his/her capacity as
President of BRIGHTSTAR URUGUAY, S.A., a entity organized under the laws of
Uruguay, and who is personally known to me or has produced --------------------
as identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

            Unconditional Guaranty (Foreign Subsidiaries) - Page 15
<PAGE>

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. Marcelo Claure, who in his/her capacity as
President of BRIGHTSTAR DE VENEZUELA, C.A., a entity organized under the laws of
Venezuela, and who is personally known to me or has produced
-------------------- as identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. Marcelo Claure, who in his/her capacity as
President of BRIGHTSTAR PROVEEDOR DE SOLUCIONES TECNOLOGICAS S.A., a entity
organized under the laws of Bolivia, and who is personally known to me or has
produced -------------------- as identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004 by R. Marcelo Claure, who in his/her capacity as
President of SOLUCIONES INTELIGENTES PARA EL MERCADO MOVIL, S.A. DE C.V., a
entity organized under the laws of Mexico, and who is personally known to me or
has produced -------------------- as identification.

                                      /s/ Clayton E. Parker
      [SEAL]                          ----------------------------------
                                      NOTARY PUBLIC
                                      NAME OF NOTARY PRINTED : Clayton E. Parker

      My commission expiries:

            Unconditional Guaranty (Foreign Subsidiaries) - Page 16<PAGE>
                                                                  EXHIBIT 10.40
                     AMENDED AND RESTATED PERSONAL GUARANTY

      THIS AMENDED AND RESTATED PERSONAL GUARANTY (the "Guaranty") is made as of
April 23, 2004, by Raul M. Claure (the "Guarantor"), in favor of MOTOROLA ,
INC., a Delaware corporation, in its capacity as agent on behalf of itself and
the other Motorola Parties (in such capacity, "Motorola").

                             Preliminary Statements

      (a) The Guarantor and Patricia Claure entered into a personal guaranty
dated April 11, 2001 (the "Original Guaranty"), in favor of Motorola, Inc.

      (b) The Original Guaranty was amended by an Omnibus Amendment made as of
May 24, 2002, by and among Motorola, Inc., the Guarantor, Patricia Claure and
the other parties thereto.

      (c) The Guarantor desires to further amend the Original Guaranty and to
restate it in its entirety as so further amended and Motorola is willing to
allow such amendment and restatement.

      NOW, THEREFORE, in consideration of the foregoing and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the Guarantor agrees to amend and restate the Original Guaranty in
its entirety as follows:

      1. Definitions. All capitalized terms used but not defined in this
Guaranty have the meanings given in the Amended and Restated Payment Terms
Agreement, dated as of April 23, 2004, by and among Motorola, Inc. (in its
capacity as agent for itself and the other Motorola Parties), Brightstar Corp.
and the other persons and entities that are parties thereto (as the same may be
amended, restated, supplemented or otherwise modified from time to time, the
"Payment Terms Agreement ").

      2. Amendment and Restatement; Guaranties and Liens Unimpaired. This
Guaranty amends, restates and replaces the Original Guaranty in its entirety. It
is the intention and understanding of the parties that (a) this Guaranty shall
continue the obligations under the Original Guaranty (and any Brightstar
Obligations represented, guarantied or secured thereby) and shall not act as a
novation of the Original Guaranty (or any Brightstar Obligations represented,
guarantied or secured thereby), (b) all guaranties and all security interests,
pledges and other liens guarantying or securing the Original Guaranty (or any
Brightstar Obligations represented, guarantied or secured thereby) shall remain
in full force and effect and shall guarantee and secure this Guaranty (and all
Brightstar Obligations represented, guarantied or secured thereby), and (c) the
priority of all guaranties and all security interests, pledges and other liens
guarantying or securing any obligations under the Original Guaranty (or any
Brightstar Obligations represented, guarantied or secured thereby) shall not be
impaired by the execution, delivery or performance of this Guaranty.
Notwithstanding the foregoing, however, it is acknowledged and agreed that
Patricia Claure is released from all obligations regarding the Original Guaranty
and has no obligations under this Guaranty.

            Amended and Restated Personal Guaranty (Claure) - Page 1

<PAGE>

      3. Guaranty. The Guarantor unconditionally and absolutely guarantees to
Motorola, the full, prompt and complete payment of the Brightstar Obligations.

      4. Nature of Guaranty and Acknowledgments. The Guarantor acknowledges that
a separate guaranty of the Brightstar Obligations is being provided on this date
by David H. Peterson and Denyse Peterson, which separate guaranty does not
diminish the obligations of the Guarantor.

      5. Waivers. The Guarantor expressly waives: (a) notice of acceptance of
this Guaranty and any and all other notices which by law or other terms are
required to be given to any of the Brightstar Parties, (b) any demand for or
notice of default of the payment of any Brightstar Obligation, and (c) any legal
obligation, duty or necessity for Motorola to proceed first against any of the
Brightstar Parties or against any other guarantor to exhaust any remedy that
Motorola may have against any of the Brightstar Parties, it being agreed that,
in the event of default of any Brightstar Obligation in any respect by any of
the Brightstar Parties, Motorola may proceed and have a right of action against
the Guarantor and/or any of the Brightstar Parties.

      6. Modification to the Brightstar Obligations. The Guarantor agrees that,
even if the Guarantor may not have consented to, or may not have notice or
knowledge of, any of the following, the unconditional liability of the Guarantor
to Motorola will not in any way be affected or discharged by: (a) any
modification, extension or renewal by any of the Brightstar Parties, Motorola or
any of the Motorola Parties of any of the Brightstar Obligations; or (b) any act
or omission or any waiver by Motorola, any of the Motorola Parties or any of the
Brightstar Parties.

      7. Continuing Guaranty. The Guarantor agrees that this Guaranty will
continue until all of the Brightstar Parties have been fully discharged of all
of the Brightstar Obligations. This Guaranty may only be modified by a writing
signed by an officer of Motorola. This Guaranty will not be diminished by any
payment or performance by the Guarantor until all of the Brightstar Obligations
have been fully discharged. If the Guarantor makes payment under this Guaranty,
the Guarantor waives any rights of subrogation as against any of the Brightstar
Parties until all of the Brightstar Obligations have been paid in full.

      8. No Defenses. The Guarantor expressly waives any defense in law or in
equity that would be available to any of the Brightstar Parties, it being the
intent of this Guaranty that the liability of the Guarantor under this Guaranty
is primary and unconditional. Further, in any action instituted by Motorola to
enforce this Guaranty the Guarantor will not be entitled to make any defense
that is contrary to the terms of this Guaranty.

      9. Expenses. In the event any action is brought in connection with the
enforcement of this Guaranty, the Guarantor will pay reasonable attorneys' fees
and all court costs incurred by Motorola.

      10. Assignments. This Guaranty is personal to the Guarantor and the
Guarantor may not assign it, but it is freely transferable by Motorola. This
Guaranty will be binding upon the heirs and legal representatives of the
Guarantor and inure to the benefit of Motorola and their respective successors
and assigns. The Guarantor understands that Motorola is relying on

             Amended and Restated Personal Guaranty (Claure) - Page 2

<PAGE>

financial information that has been provided by the Guarantor to Motorola, and
the Guarantor represents that such information is correct in all material
respects. At least annually, but otherwise at Motorola's request, the Guarantor
will provide updates of such financial information. Regardless, the Guarantor
agrees to immediately notify Motorola if there is a material change in the
financial information that the Guarantor has provided to Motorola. Without
limiting the foregoing, the Guarantor shall furnish to Motorola, promptly upon
request, such financial or other information concerning the Guarantor
(including, but not limited to, periodic personal financial statements) as
Motorola may request from time to time. The Guarantor also specifically
authorizes Motorola to obtain consumer credit reports concerning the Guarantor
from time to time as determined by Motorola in its discretion.

      11. Notices. Any notice, demand or other communications required to or
permitted to be given or made hereunder in writing, shall be deemed given or
made when (a) delivered in person; (b) five (5) days after such communication is
posted in the mails; or (c) one (1) day after such communication is sent by a
nationally recognized overnight courier service. Such communications shall be
addressed as follows:

      If to Motorola to:                Motorola, Inc
                                        798 International Parkway
                                        Sunrise, Florida 33325
                                        Attn: PCS Latin America Director of
                                        Finance

      With a copy to:                   Shook, Hardy & Bacon L.L.P.
                                        Miami Center, Suite 2400
                                        201 South Biscayne Boulevard
                                        Miami, Florida 33131-4332
                                        Attn: John M. Barkett, Esq.

      If to the Guarantor to:           Raul M. Claure
                                        2701 NW 107th Ave.
                                        Miami, FL 33172

      With a copy to:                   Kirkpatrick & Lockhart LLP
                                        Miami Center, 20th Floor
                                        201 South Biscayne Boulevard
                                        Miami, Florida 33131
                                        Attn: Clayton E. Parker, Esq.

      or at such other address or addresses as the party addressed may from time
to time designate in writing.

      12. Governing Law. This Guaranty will be deemed made in and governed by
the laws of the State of Florida, without regard to laws regarding conflicts of
law.

      13. Severability. If any term or provision of this Guaranty should be
declared invalid by a court of competent jurisdiction, the remaining terms and
provisions will be unimpaired and the invalid term or provision will be replaced
by such valid term or provision as comes closets to the intention underlying the
invalid term or provision.

            Amended and Restated Personal Guaranty (Claure) - Page 3

<PAGE>

      14. WAIVER OF JURY TRIAL. THE GUARANTOR AND MOTOROLA HEREBY KNOWINGLY,
VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT EACH MAY HAVE TO A TRIAL BY JURY
IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER OR IN
CONNECTION WITH THIS GUARANTY OR ANY OTHER AGREEMENT AMONG ANY OF THE BRIGHTSTAR
PARTIES ON ONE HAND, AND ANY MOTOROLA PARTY ON THE OTHER HAND, OR ANY COURSE OF
CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF
EACH PARTY. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE GUARANTOR AND
MOTOROLA ENTERING INTO THIS AGREEMENT. THE PROVISIONS OF THIS ARTICLE HAVE BEEN
FULLY NEGOTIATED BY THE PARTIES HERETO AND THESE PROVISIONS SHALL BE SUBJECT TO
NO EXCEPTIONS. NEITHER THE GUARANTOR NOR MOTOROLA HAS IN ANY WAY AGREED WITH OR
REPRESENTED TO ANY OTHER PARTY THAT THE PROVISIONS OF THIS ARTICLE WILL NOT BE
ENFORCED IN ALL INSTANCES. NEITHER THE GUARANTOR NOR MOTOROLA SHALL SEEK TO
CONSOLIDATE ANY SUCH ACTION, IN WHICH A JURY TRIAL HAS BEEN WAIVED, WITH ANY
OTHER PARTY IN WHICH A JURY TRIAL HAS NOT BEEN OR CANNOT BE WAIVED.

      15. Waiver of Plea of Jurisdiction or Venue. Because the Guarantor and
Motorola each have a significant interest in consistent interpretation of this
Guaranty, the Guarantor designates Miami, Florida as the sole forum for
resolution of any dispute arising hereunder. The Guarantor hereby waives any
plea of jurisdiction or venue as not having a place of business in Miami-Dade
County, Florida, and hereby specifically authorizes any action brought upon the
enforcement of the Guaranty to be instituted and prosecuted in either the
Circuit Court of Miami-Dade County, Florida, on in the United States District
Court for the Southern District of Florida, at the election of Motorola.
Guarantor further agrees that a final judgment in any action or proceeding will
be conclusive and may be enforced against it in any other jurisdiction or in any
other manner provided by law.

      16. Miscellaneous. This Guaranty may be validly executed and delivered by
fax or other electronic transmission and in one or more counterpart signature
pages. This Guaranty shall be construed without presumption for or against the
drafter of all or any part hereof. Section headings are for convenience of
reference only and shall not limit the scope of any Section. All factual
recitals and other matters set forth in the Preliminary Statements to this
Guaranty shall constitute a part of this Guaranty.

                            [Signature pages follow]

            Amended and Restated Personal Guaranty (Claure) - Page 4

<PAGE>

      IN WITNESS WHEREOF, the Guarantor has executed this Guaranty as of the
date first above written.

/s/ Raul M. Claure
-----------------
Raul M. Claure
Date Signed:___________________
Social Security or Other Government Identification No: ###-##-####

Accepted:

Motorola, Inc.

By: /s/ Dennis J. Strand
    -----------------------
Name: Dennis J. Strand
Title: CFO - PCS.

      I HEREBY CERTIFY the foregoing instrument was acknowledged before me this
23rd day of April, 2004, by RAUL M. CLAURE, in his individual capacity, and who
is personally known to me or has produced ____________ as identification.

                        /s/ Clayton E. Parker
                        -------------------------------------
                        Notary Public
                        Name of Notary Printed: Clayton E. Parker

My Commission Expires:

[CLAYTONE E. PARKER SEAL]

            Amended and Restated Personal Guaranty (Claure) - Page 5

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