TIM's stock surged 5.91% during pre-market trading on Wednesday following the announcement of a significant acquisition that will give the company full control of I-Systems Solucoes de Infraestrutura.
The Brazilian telecommunications company announced it has agreed to acquire the remaining 51% stake in I-Systems from IHS Fiber Brasil for R$950 million (approximately $452.6 million). This transaction will give TIM 100% ownership of the fiber infrastructure company, representing a strategic expansion of its network assets.
The deal, which is expected to be completed later this year, strengthens TIM's position in the Brazilian telecommunications market by giving it full control over I-Systems' fiber infrastructure assets. This acquisition is seen as a positive strategic move that could enhance TIM's competitive positioning and future revenue potential in the growing fiber broadband market.