IHS Towers Completes Transaction with TIM S.A., Forming I-Systems to Deliver Fiber Optic Infrastructure Services
Summary
LONDON & SÃO PAULO--(BUSINESS WIRE)--IHS Holding Limited (“IHS Towers”), one of the largest independent owners, operators, and developers of shared telecommunications infrastructure in the world by tower count, has closed its previously announced transaction with TIM S.A. (“TIM”) to acquire a controlling interest in FiberCo Soluções de Infraestrutura S.A. (“FiberCo”). I-Systems is expected to generate net Revenue of approximately US$57 million in the first full year of operations (based on a current exchange rate of 5.49 USD/BRL). The Company has more than 30,500 towers across its nine markets, including Brazil, Cameroon, Colombia, Côte d’Ivoire, Kuwait, Nigeria, Peru, Rwanda and Zambia. The company is recognized for leading important movements in the market since the beginning of its operations in the country and is at the forefront of societys digital transformation, in line with the signature of the brand: "Imagine possibilities". TIM is also part of B3 New Market, acknowledged as the highest level of Corporate Governance, and it was the first Telecom company recognized by the Controller General of the Union (CGU) with the "Pró-ética" seal.