IHS Towers buys control of TIM's fiber optic business in Brazil

IHS Towers buys control of TIM's fiber optic business in Brazil

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Telecommunications infrastructure company IHS Towers has inked a deal worth BRL1.64 billion ($310 million) to buy 51% of the fiber optic division of TIM Brasil, the Brazilian subsidiary of Italian telco TIM, according to a securities filing. FiberCo, as the business is called, will receive BRL609 million in cash as part of the deal, while TIM will get BRL1.03 billion from IHS Towers, TIM said in the filing. TIM will keep 49% of FiberCo, which was valued at BRL2.6 billion in the transaction, it a

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