TIM's stock soared 7.67% during intraday trading on Wednesday, following the company's announcement of a major strategic acquisition.
The Brazilian telecommunications company has agreed to acquire the remaining 51% stake in I-Systems Solucoes de Infraestrutura 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 significant 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. Market participants view this acquisition as a positive strategic move that could enhance TIM's competitive positioning and future revenue potential in the growing fiber broadband market.