CORRECTED-Brazil's TIM approves agreement to buy 51% of I-Systems
Reuters
Yesterday
CORRECTED-Brazil's <a href="https://laohu8.com/S/TIMB">TIM</a> approves agreement to buy 51% of I-Systems
Corrects spelling of company name in paragraph 1; removes extra word in the headline
SAO PAULO, Feb 11 (Reuters) - Brazilian telecoms operator TIM SA TIMS3 board approved a share purchase agreement with IHS Fiber Brasil to buy 51% of the total share capital of I-Systems for 950 million reais ($182.75 million), the company said on Wednesday.
I-systems will become a wholly-owned subsidiary of TIM once the transaction if concluded, with TIM holding all of its shares, the telecoms operator added in a statement. The operation is subject to regulatory approval.
Reuters reported TIM's intentions earlier this month citing sources.
($1 = 5.1985 reais)
(Reporting by Isabel Teles; Editing by Aida Pelaez-Fernandez)
((Isabel.Teles@thomsonreuters.com;))
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