MTN Group has moved closer to taking full ownership of IHS Towers after shareholders of the telecommunications infrastructure company approved the proposed acquisition of its remaining shares. The approval, secured at an Extraordinary General Meeting held on August 4, 2026, clears a major hurdle in MTN’s plan to acquire the approximately 75.3 percent stake in IHS Towers that it does not already own.
MTN currently holds about 24.7 percent of IHS Towers. If completed, the transaction will make IHS Towers a wholly owned subsidiary of MTN and take the company private.
Details of the $6.2 Billion Valuation
The proposed deal, announced in February 2026, values IHS Towers at approximately $6.2 billion and involves MTN paying $8.50 in cash for each outstanding IHS Towers share. The consideration for the shares MTN does not already own is approximately $2.2 billion. The transaction requires further regulatory approvals before completion.
For IHS Towers shareholders, the transaction offers $8.50 per share in cash. IHS said when the deal was announced that the offer represented a premium of about 36 percent to its 52-week volume-weighted average price and approximately 239 percent over its share price when the company began its strategic review in March 2024.
Strategic Alignment with Ambition 2030
The shareholder vote represents an important step for MTN as it advances its broader strategy of expanding its digital infrastructure portfolio under its Ambition 2030 plan. IHS Towers is one of the world’s largest independent owners and operators of telecommunications infrastructure, with extensive tower operations across African markets, including Nigeria, South Africa, Cameroon, Côte d’Ivoire and Zambia.
The proposed acquisition would give MTN greater control over a critical part of the infrastructure supporting mobile connectivity across its markets. Gaining full ownership of IHS Towers could strengthen its position across the telecommunications infrastructure value chain while giving it greater strategic control over assets that underpin the group’s mobile and data businesses.
Delisting and Shareholder Backing
The deal is expected to end IHS Towers’ status as a publicly listed company on the New York Stock Exchange once the transaction is completed. MTN has committed to vote its existing IHS shares in favour of the transaction, while long-term IHS shareholder Wendel has also expressed support for the deal.
Together, the two shareholders represented more than 40 percent support when the transaction was announced. The completion of the acquisition will depend on the satisfaction of the remaining conditions, particularly regulatory clearances.
