MTN Group has agreed to acquire IHS Towers in a deal valued at approximately $6.2 billion, marking one of the largest telecom infrastructure transactions in Africa in recent years.
The all-cash agreement, reached after weeks of negotiations, will see IHS shareholders receive $8.50 per ordinary share. The offer represents a 36% premium to the company’s 52-week volume-weighted average price and about a 3% premium to its unaffected closing price of $8.23 on February 4, 2026.
IHS Towers, a major independent owner and operator of shared telecom infrastructure, has operated for 25 years and maintains a significant footprint across Africa and other emerging markets.
Chairman and CEO of IHS Towers, Sam Darwish, described the transaction as an opportunity for shareholders to realise value created during the company’s strategic review.
“This announcement provides certainty and immediate returns for our shareholders and strengthens our long-standing partnership with MTN,” Darwish said, adding that the deal underscores IHS’s deep ties to Africa’s digital growth story.
MTN Group President and CEO Ralph Mupita said the acquisition aligns with the company’s broader strategy to strengthen its infrastructure base as digital connectivity becomes increasingly central to economic development.
“This transaction gives us a unique opportunity to buy back our towers and reinforce our role as partners for progress in the markets where we operate,” Mupita said, pledging continued high service standards and governance across the expanded tower business.
MTN already owns about 24% of IHS on a fully diluted basis and has committed to vote its shares in favour of the deal. Long-term investor Wendel has also pledged support, bringing total shareholder backing to more than 40%.
The acquisition follows earlier reports that MTN was in discussions to purchase the roughly 75% stake in IHS it does not already control. If completed, the deal would further consolidate MTN’s control over critical telecom infrastructure across the continent.
Source: Nairametrics