MTN Acquires IHS Towers for $6.2 Billion Deal

MTN Group announced the acquisition of IHS Towers for approximately $6.2 billion, regaining control of its telecom towers that were previously sold to IHS. The agreement was reached after a week of negotiations and received unanimous approval from the IHS Towers board of directors.

Sam Darwish, Chairman and CEO of IHS Towers, described the deal as a compelling opportunity to crystallize value built over the company's 25-year history. Ralph Mupita, MTN Group President and CEO, stated that the transaction strengthens the company's strategic financial position and emphasizes the importance of digital infrastructure in economic development.

Under the terms of the agreement, IHS shareholders will receive $8.50 per ordinary share in cash, representing a 36% premium over the 52-week volume-weighted average price. MTN, which already held approximately 24% of IHS, will fund the deal with $1.1 billion in cash, rolling over its existing stake.

This acquisition marks a significant shift back to direct ownership of towers, reducing long-term rental costs and enhancing operational flexibility for future 5G and fiber rollout.