MTN Group to Acquire IHS Towers for $6.2 Billion

MTN Group has finalized an agreement to acquire IHS Towers in a cash transaction valued at $6.2 billion. This deal follows a week of negotiations and offers IHS shareholders a 36% premium based on the 52-week volume-weighted average price.

Sam Darwish, Chairman and CEO of IHS Towers, described the agreement as a compelling opportunity that crystallizes the value built over the company's 25-year history. Ralph Mupita, President and CEO of MTN Group, stated that the transaction will strengthen the company's strategic financial position as digital infrastructure becomes increasingly central to economic development.

The IHS Towers board of directors unanimously approved the transaction and recommended that shareholders vote in favor. MTN already holds approximately 24% of IHS on a fully diluted basis and has secured commitments from long-term investors, including Wendel, bringing total support to 40%.

The deal is expected to close in 2026, pending shareholder and regulatory approvals, and will combine MTN's existing stake with approximately $1.1 billion in cash.