TIM sells 51% stake in fiber business for $472 mm

TIM Brasil has signed an agreement with IHS Brasil Participações for a partnership at FiberCo Soluções de Infraestrutura. IHS will hold 51% of the fiber-optic infrastructure company, which is focused on providing wholesale services, and TIM Brasil will hold the remaining 49%. HIS, a Nigeria-based telecoms infrastructure provider, will invest R$2.6 billion ($472 mm) for its stake in FiberCo. The new company will be responsible for the “last-mile” infrastructure, the final stretch to the client’s home.

Source: Valor International