IHS Towers Signs Acquisition Agreement with TIM Brasil to Deliver Fiber Connectivity

6 May 2021, London/São Paulo: 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 signed agreements with TIM S.A. (“TIM”) to acquire a controlling interest in FiberCo Soluções de Infraestrutura Ltda. (“FiberCo”), which will include select TIM fiber assets and provide fiber optic infrastructure services as an Open Fiber Network Service Provider.

Under the agreements, IHS Towers will, through one of its Brazilian subsidiaries, own a 51% stake and TIM the remaining 49%. Since entering Brazil in February 2020, this partnership follows the acquisitions by IHS Towers of Cell Site Solutions, Skysites and Centennial Towers’ Brazil and Colombian operations, and is testament to both IHS Towers’ commitment to the region and its innovative agenda. 

Upon completion, FiberCo’s asset base will include TIM’s secondary network infrastructure, covering approximately 6.4* million households, of which 3.5 million are Fiber-to-the-Home and 3.5 million Fiber-to-the-Cabinet. FiberCo will be responsible for the deployment of new fiber infrastructure for TIM, and the operation and maintenance of all such fiber infrastructure. TIM will be an anchor tenant across the network under a long-term master services agreement.

The transaction remains subject to customary antitrust and regulatory approvals, such as the Agência Nacional de Telecomunicações - ANATEL and the Conselho Administrativo de Defesa Econômica - CADE.

Sam Darwish IHS Towers Chairman and Group Chief Executive Officer "I am delighted to announce this transaction with TIM as it marks a significant milestone in our Latin American growth trajectory and our ongoing relationship with TIM. In our African markets, we are already delivering fiber connectivity solutions and I am excited to transfer our knowledge to the Brazilian market and partner with one of the region’s leading mobile networks. By combining IHS’ engineering excellence with TIM’s exceptional market knowledge we will be well-placed to deliver fiber connectivity as demand in the region soars." 

Pietro Labriola TIM Brasil Chief Executive Officer "This is a fundamental step in our fiber growth strategy. It will enable TIM to meet the growing demand for fiber services and place FiberCo in a unique position within the Brazilian market. Our selection of IHS as our partner, a company with exceptional operational expertise, provides us with the capabilities to deliver large-scale services with robust fiber and cutting-edge solutions. This joint venture is testament to our commitment to the Brazilian market as we strive to stay ahead of its rapidly growing fiber demands."

ENDS

About IHS Towers: IHS Towers is one of the largest independent owners, operators and developers of shared telecommunications infrastructure in the world by tower count, with more than 29,700 towers across nine markets. IHS continues to grow and develop its existing positions and offerings in Brazil, Cameroon, Colombia, Côte d’Ivoire, Kuwait, Nigeria, Peru, Rwanda and Zambia. For more information, please email: [email protected] or visit: www.ihstowers.com

About TIM Brasil: To evolve together with courage, transforming technology into freedom” is the purpose of TIM, which operates throughout Brazil with telecommunications services, focused on the pillars of innovation, customer experience and agility. 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 society's digital transformation, in line with the signature of the brand: "Imagine possibilities". Since 2015, it has been a leader in 4G coverage in Brazil, connecting, including the countryside, to enable innovation in agribusiness. It was a pioneer in the activation of 5G networks in the country, with the creation of Living Labs in 2019, and is ready for the next generation of mobile networks.

TIM values diversity and promotes an ever more inclusive culture, with a work environment based on respect. The company is committed with best practices in Environmental, Social and Governance, and that is why it is part of important portfolios in the Brazilian Stock Market, such as S&P/B3 Brazil ESG, Efficient Carbon Index (ICO2) and Business Sustainability Index (ISE), being the Telecom operator for longer consecutive years in this list (13 years). 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.

For more information, visit: https://www.tim.com.br

_{* Total households considering an overlap of coverage between FTTH and FTTC of 577 thousand homes.}