Telecom giant MTN Group is set to buy IHS Towers in a massive $6.2 billion deal to boost African digital infrastructure.
In a massive shake-up of Africa’s telecommunications landscape, MTN Group has officially reached an agreement to acquire IHS Towers.
The all-cash deal values the infrastructure giant at an enterprise value of approximately $6.2 billion.
This high-stakes move comes after weeks of intense negotiations between the two companies. Once finalized, it will see MTN take full control of one of the world’s largest independent tower operators, a company that actually began its journey in Nigeria back in 2001.
According to the terms of the deal, IHS shareholders are set to receive $8.50 per share in cash. This price offers a significant 36% premium over the company’s average trading price for the past year, providing an immediate and guaranteed exit for investors.
Sam Darwish, the Chairman and CEO of IHS Towers, described the deal as a "compelling opportunity." He noted that the agreement allows the company to realize the value built over its 25-year history while deepening its long-standing partnership with MTN.
For MTN’s Group President and CEO, Ralph Mupita, the acquisition is more than just a purchase. He explained that it allows MTN to buy back its towers and strengthens its position as a key partner for digital progress across the African continent.
The deal already has strong backing. MTN currently holds about 24% of IHS, and with the support of long-term investor Wendel, more than 40% of shareholders have already committed to voting in favor of the merger.
However, the transaction isn’t fully closed yet. It still requires regulatory and shareholder approvals.
Additionally, IHS must complete the sale of its operations in Latin America and its fiber business before the final signatures are inked.
The funding for this multi-billion dollar deal will come from a mix of MTN’s existing stake, cash from both companies, and the rollover of existing IHS debt.
If everything goes as planned, the transaction should be completed within 2026.
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