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MTN Group is in advanced talks to acquire the remaining 75% of IHS Towers, a deal that could reshape the industry.

Africa’s telecommunications giant, MTN Group, is looking to bring its network infrastructure back home. 

The company recently confirmed it is in advanced discussions to buy the roughly 75% stake in IHS Holding Limited that it does not already own. 

If this deal goes through, it would give MTN total control over one of the largest independent tower companies in the world.

The news comes after weeks of market rumors. In a cautionary notice shared on Thursday, February 5, 2026, MTN told its investors that it is seriously evaluating the buyout. 

The potential offer is expected to be close to the company's recent trading price on the New York Stock Exchange (NYSE), which values the deal at approximately $2.8 billion.

This move marks a significant change in direction for MTN. For years, the telco followed an "asset-light" strategy, selling off thousands of its towers to IHS and then leasing them back to save costs. 

This included a massive deal in South Africa back in 2022. Now, it seems MTN wants to be the landlord again rather than the tenant.

IHS Towers has deep roots in Nigeria, having been founded there in 2001 by Sam Darwish. Today, the company manages over 37,000 towers across Africa and Latin America. 

Nigeria remains its biggest market, and MTN is its largest customer, making this acquisition a natural though bold step for the mobile operator.

While the talks are "advanced," MTN has warned its shareholders that nothing is final yet. There is no binding agreement on the table, and the deal could still fall through. 

However, if it succeeds, it will likely cause a major stir in the stock market and change how telecom infrastructure is managed across the continent.

For now, MTN is advising its investors to be careful when trading their shares until a final decision is reached. 

If the acquisition doesn’t happen, the group says it will still look for other ways to get the best value from its current investment in IHS.