IHS Towers has closed its acquisition of a 51% stake in FiberCo Solucoes de Infraestrutura from TIM Brasil for BRL1.096 billion (US$198.9 million).
TIM signed an exclusivity agreement with IHS over the controlling stake in March 2021. The operator will retain a 49% holding in FiberCo going forward, with the unit set to be rebranded as I-Systems. In addition to the acquisition fee, IHS has laid down BRL233 million of investment into the unit and will pay a further three instalments of BRL350 million across the next three years.
CommsUpdate reports that I-Systems will assume control of TIM’s secondary network infrastructure, and will be responsible for deploying, operating and maintaining new secondary fibre infrastructure for the operator. A long-term master services arrangement will see TIM remain the anchor tenant for the network.
