IHS Towers, one of the largest independent owners of telecoms infrastructure globally and a major player in Nigeria’s tower market, has agreed to sell its 51% stake in Brazilian fibre company I-Systems Soluções de Infraestrutura S.A. to TIM S.A. in a transaction valued at $452.6 million.
The deal, announced in a statement made available to Technology Times on February 11, 2026 from London and São Paulo, will see TIM, which already owns 49% of I-Systems, take full control of the fibre network operator, marking IHS Towers’ complete exit from the Brazilian fibre sector.
The transaction, the tower company said, subject to customary regulatory approvals, is expected to close later in 2026.
The deal, announced in a statement made available to Technology Times on February 11, 2026 from London and São Paulo, will see TIM, which already owns 49% of I-Systems, take full control of the fibre network operator, marking IHS Towers’ complete exit from the Brazilian fibre sector.
Strategic Refocus by IHS Towers
IHS Fiber Brasil – Cessão de Infraestruturas Ltda, a subsidiary of IHS Holding Limited, is divesting its majority stake in I-Systems as part of what the company describes as “strategic initiatives targeted at shareholder value creation.”
The transaction reflects an enterprise value of $452.6 million.
Sam Darwish, Chairman and CEO of IHS Towers, said the sale aligns with the company’s strategy of concentrating on “lower capex, higher return businesses” for the tower giant.
“Today’s announcement to sell I-Systems to TIM,” Darwish said, “forms part of our strategic initiatives targeted at shareholder value creation, designed to help focus our growth on lower capex, higher return businesses.”
He also acknowledged the role of employees and partners in building the Brazilian fibre business.
The divestment signals a capital reallocation shift by IHS Towers, which operates more than 37,000 towers across seven markets: Brazil, Cameroon, Colombia, Côte d’Ivoire, Nigeria, South Africa and Zambia.
For Nigerian observers, the move reinforces the company’s sharpening focus on its core shared tower infrastructure model in emerging markets.
Scale of the Brazilian fibre asset
I-Systems is a specialist provider of shared optical fibre networks in Brazil.
The network:
Covers approximately 9.3 million homes passed
Includes approximately 6.4 million Fiber-to-the-Home (FTTH) connections
Spans about 22,250 route kilometers
The scale makes it a significant fixed broadband asset in Latin America’s largest economy.
By exiting this business, IHS Towers is stepping away from fibre-heavy capital expenditure exposure in Brazil, a market characterised by intense broadband competition and substantial infrastructure investment requirements.
TIM strengthens broadband ambitions
For TIM Brasil, the acquisition consolidates its position in the country’s broadband market.
Alberto Griselli, CEO of TIM Brasil, described the transaction as “another strategic move” to reinforce the company’s footprint in broadband, which he called a “defining front” for TIM 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,” Griselli said.
TIM has operated in Brazil for over 25 years and claims the country’s largest 5G coverage footprint, alongside nationwide 4G reach.
The acquisition gives TIM full ownership of an FTTH platform serving millions of households, strengthening vertical integration between mobile and fixed broadband services.
Implications for Nigeria and emerging markets
Although the transaction concerns Brazil, Nigerian industry stakeholders will closely watch IHS Towers’ strategic repositioning.
Nigeria remains one of IHS Towers’ largest and most strategic markets. As Africa’s biggest telecoms market by subscriber base, Nigeria depends heavily on independent tower companies such as IHS to support network expansion for operators including MTN Nigeria, Airtel Nigeria and Glo.
The Nigerian telecoms sector currently has:
Over 177 million active subscriptions
Internet subscriptions exceeding 144 million
Broadband penetration above 50%
Data consumption surpassing 1.2 million terabytes monthly
With telecoms contributing over 10% to GDP in recent years, infrastructure efficiency and capital discipline are critical to sustaining growth.
IHS Towers’ shift toward “lower capex, higher return businesses” suggests a stronger emphasis on its core shared tower operations — a model that typically offers predictable cash flows through long-term lease contracts with mobile network operators.
For Nigerian operators, tower infrastructure remains central to 4G densification and ongoing 5G rollout, especially amid rising operating costs and foreign exchange volatility.
Capital discipline in a high-interest environment
The $452.6 million enterprise value attached to I-Systems underscores the scale of capital deployed in fibre infrastructure.
Fibre networks, particularly FTTH platforms, are capital intensive, requiring sustained investment in rollout, maintenance and customer acquisition.
By exiting Brazil’s fibre segment, IHS Towers appears to be streamlining its portfolio to focus on infrastructure categories that require comparatively lower incremental capital expenditure per unit of revenue.
J.P. Morgan is acting as financial adviser to IHS Towers on the transaction.
The deal remains subject to regulatory approvals and other customary closing conditions.
Market context
Globally, tower companies have increasingly reassessed diversification strategies into fibre, small cells and edge infrastructure amid rising interest rates and investor pressure for improved returns on invested capital.
IHS Towers, listed on the New York Stock Exchange, has previously emphasised operational efficiency, debt management and capital optimisation in emerging markets.
The Brazilian exit may therefore signal broader portfolio rationalisation rather than geographic retreat.
The company will continue to operate tower assets in Brazil, alongside its other six markets.
Forward-looking caveat
In line with US securities regulations, IHS Towers cautioned that forward-looking statements regarding the transaction’s closing are subject to uncertainties, including regulatory approvals and other conditions.
The company referenced its filings with the US Securities and Exchange Commission, including its Annual Report on Form 20-F for the fiscal year ended December 31, 2024, for further risk disclosures.
What to watch
For Nigeria’s telecoms ecosystem, the key questions will be:
* Whether capital freed from Brazil fibre will be redeployed into tower expansion in core African markets.
* How global infrastructure portfolio optimisation affects investment appetite in Nigeria’s fast-growing data market.
* Whether similar asset rationalisation trends will influence other infrastructure players active in West Africa.
As Nigeria deepens broadband penetration and accelerates 5G deployment, the strategic choices of global infrastructure providers such as IHS Towers will remain closely watched.
The Brazilian fibre exit, while geographically distant, underscores a broader industry shift toward capital discipline and core infrastructure specialisation — themes that are equally relevant to Nigeria’s evolving telecoms landscape.
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