MTN Group, Africa’s largest mobile network operator, is in advanced discussions to acquire the remaining 75 per cent stake in IHS Towers that it does not already own, in a transaction that could value the telecoms infrastructure firm at approximately $2.76 billion.
According to a Reuters report on Thursday, MTN is negotiating a potential buyout of IHS Holdings, the parent company of IHS Towers, based on the company’s latest closing price on the New York Stock Exchange.
MTN currently owns about a 25 per cent stake in IHS, which it acquired in 2014 after divesting the bulk of its tower assets across several African markets to the company in a landmark infrastructure deal.
The telecom operator relies heavily on IHS for tower services in key markets, including Nigeria, making the potential acquisition a significant strategic move.
If completed, the deal would give MTN greater control over critical network infrastructure, potentially helping it manage operating costs, improve service quality, and reduce long-term dependence on third-party providers.
MTN said any offer would reflect IHS’s recent market valuation, adding that discussions are still ongoing and no binding agreement has been reached.
IHS Holdings, which is listed on the New York and Frankfurt stock exchanges, closed lower on Wednesday, giving it a market capitalisation of approximately $2.76 billion, according to market data.
In an earlier statement, MTN Group President and Chief Executive Officer Ralph Mupita said the company remains focused on strengthening its networks to meet growing demand for data services
“We remain focused on ensuring our networks are well invested, have high availability, and have the headroom to meet the growing and structural demand for data going into the future,” he said, noting that renewed commercial arrangements with IHS would support those priorities.
MTN stated that should the negotiations not result in a transaction, it will explore alternative ways to unlock value from its existing stake while adhering to its capital allocation strategy.
The two companies have maintained a long-standing commercial relationship, with MTN acting as IHS’s largest customer across multiple African markets and also remaining one of its major shareholders.
