The Digest:
MTN Group has reached an agreement to acquire IHS Towers, one of the world's largest independent telecom infrastructure owners, in an all-cash transaction valued at approximately $6.2 billion enterprise value. Under the terms, IHS shareholders will receive $8.50 per ordinary share, representing a 36% premium to its 52-week volume-weighted average price. MTN, which already holds roughly 24% of IHS, will fund the deal through a combination of existing stake rollover, approximately $1.1 billion in cash, and about $1.1 billion from IHS's balance sheet. The transaction, unanimously approved by IHS's Board, is expected to close in 2026 subject to shareholder and regulatory approvals. Completion depends on IHS divesting its Latin American tower business and fibre operations. IHS manages over 37,000 towers across seven markets including Nigeria, South Africa, and Brazil.
Key Points:
- The acquisition creates Africa's largest integrated mobile operator and tower company.
- It strengthens MTN's strategic position as digital infrastructure becomes central to economic development.
- Shareholders receive premium exit, while MTN consolidates critical infrastructure assets.
- This signals the growing strategic importance of tower infrastructure in Africa's digital economy.
- The timing, with IHS divesting Latin American assets, focuses on core African markets.
Sources: Nairametrics
