MTN Group revealed its plan to acquire the remaining shares in IHS Holding Limited for $2.2 billion. The company offered $8.50 per share, a 3% premium over IHS’s closing price on February 4, 2026. MTN already held a 24.7% stake in IHS. This move followed IHS’s board acceptance of the offer on February 17, 2026.
Strategic Shift
MTN sought to gain control of nearly 29,000 towers across Africa. The acquisition focused on IHS’s African portfolio after the tower company completed disposals of its Latin American assets. Previously MTN leased infrastructure from IHS.
Now the deal reversed years of divesting passive assets. Ralph Mupita, MTN Group CEO, stated that the transaction would deliver operational synergies and cost savings.
Funding Structure
MTN planned to fund the deal with $1.1 billion in cash from IHS’s balance sheet, plus its own liquidity and debt. The agreement valued IHS’s entire enterprise at $6.5 billion, including debt. Additionally the transaction included delisting IHS from the New York Stock Exchange.
Regulatory Path
Shareholders and regulators needed to approve the deal. MTN expected completion in 2026. However the company withdrew its cautionary announcement to investors after the agreement.
Sam Darwish, IHS Towers Chairman and CEO, noted that the offer provided shareholders an attractive opportunity to realize value.9f5ac9 This acquisition strengthened MTN’s digital infrastructure in Africa.
