IHS Towers sells I-Systems stake back to TIM SA in US$453m deal

Details: John Tanner; Category: Optical & Fixed Networks; 12 February 2026; 7409 views

IHS Fiber Brasil announced on Wednesday it is quitting the Brazilian fibre sector after parent firm IHS Towers agreed to sell its 51% stake in fibre company I-Systems back to Brazilian operator TIM SA.

IHS Fiber Brasil said the sale gives TIM SA full ownership of I-Systems, and reflects an enterprise value of US$452.6 million. The transaction – subject to the usual customary closing conditions, including regulatory approvals – is expected to close later this year.

TIM SA’s parent company, Telecom Italia, sold a 51% stake in I-Systems (known as FiberCo at the time) to IHS Towers in 2021 under a sale-and-leaseback arrangement, with TIM SA holding the remaining 49% stake. Earlier this month, TIM SA revealed in a filing to the securities regulator that it was in non-binding discussions with IHS Brasil over a potential buyback of the stake.

The I-Systems network spans approximately 22,250 km and passes approximately 9.3 million homes (of which approximately 6.4 million are fiber-to-the-home) as of the end of 2024.

As we reported yesterday, the I-Systems buyback appears to be part of a an emerging trend of operators reversing course and buying back infrastructure assets they previously sold off.

IHS Towers chairman and CEO Sam Darwish said the transaction is aligned with its previously announced strategic initiatives “designed to help focus our growth on lower capex, higher return businesses.”

TIM Brasil CEO Alberto Griselli said it bought back control of I-Systems to strengthen its presence in the broadband market, which was “a defining front” for the company in 2025.

“By improving end‑to‑end connectivity quality, TIM aims to enhance customer experience, boost operational efficiency, and reinforce its position for upcoming FTTH opportunities, while maintaining a strong focus on profitability and cash generation,” he said in a statement.