MTN Group to Acquire IHS Towers for $6.2 Billion

MTN Group has officially announced its intention to acquire IHS Towers' African operations for $6.2 billion in cash, as stated in a press release by the Minister of Communications, Innovation, and Digital Economy, Bosun Tijani. The acquisition is subject to regulatory review and is seen as a critical move for enhancing telecommunications infrastructure in Nigeria and across Africa.

MTN's offer of $8.50 per ordinary share represents a premium of approximately 239% over IHS Towers' share price as of February 4, 2026. The IHS Towers board of directors has unanimously approved the agreement, which will require shareholder support, with two shareholders holding a combined 40% stake providing letters of support.

Upon completion, IHS Towers will no longer be publicly listed and will become a wholly-owned subsidiary of MTN. The transaction is expected to close in 2026, pending regulatory approvals, and will be funded through a rollover of MTN's existing stake in IHS Towers, alongside approximately $1.1 billion in cash.