Nigeria's IHS Towers buys Brazilian telecoms company

Posted by News Express | 23 December 2019 | 1,359 times

Nigerian telecoms group IHS Towers said on Monday it has agreed to buy Brazilian telecoms infrastructure company Cell Site Solutions (CSS) from Goldman Sachs and Centaurus Capital LP for an undisclosed amount, to expand in Latin America.

The acquisition is part of IHS’s strategy to become the a leading owner, operator and developer of shared telecommunications infrastructure in emerging markets.

“Brazil’s topography and compact urban areas, coupled with the recent economic upturn, provide favorable macroeconomic factors for 4G and 5G deployment,” IHS’s chairman and chief executive Sam Darwish said in a statement.

The transaction, which was first reported by newspapers O Estado de S.Paulo and Valor Econômico, is subject to regulatory approval, IHS added. (Reuters)

Source: News Express