MTN Group in Talks to Acquire 75% Stake in IHS Towers for $2.76 Billion
MTN Group, Africa's largest mobile network operator, is in talks to purchase a 75% stake in IHS Towers for $2.76 billion. This deal would see MTN acquiring the majority ownership of the tower infrastructure firm.
Currently, MTN holds roughly 25% of IHS Towers stemming from a 2014 tower sale deal. The acquisition would allow MTN to exert greater control over its assets, improve network efficiency, and reduce reliance on third-party providers.
Ralph Mupita, MTN Group's President and CEO, highlighted the strategic importance of the potential transaction in enhancing MTN's operational capabilities. While negotiations are ongoing, no binding agreement has been reached yet.
IHS Towers, listed in New York and Frankfurt, has seen its market capitalization at $2.76 billion. The deal signifies MTN's commitment to maintaining its commercial relationship with IHS Towers, a critical infrastructure provider in several African markets.
Plus234Feed summary based on reporting from Punch Newspapers. Read the original report below.
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