MTN Group is buying IHS Towers in a deal that values the telecom tower company at around $6.2 billion. It’s an all-cash deal.
This big move is happening after the two companies talked it over for a few weeks. News of it is everywhere in Nigeria. It’s one of the largest combinations of infrastructure in Africa’s telecom world.
Here’s how it breaks down: IHS shareholders will get $8.50 for each share they own. That’s a good deal because it’s 36% higher than the average price of the stock over the past year. It’s also 3% more than the stock was worth on February 4, 2026, which was $8.23.
What the Top People Say
IHS Towers Chairman and CEO, Sam Darwish, said that this deal is a key point in the company’s 25-year existence.
He mentioned that it gives shareholders a sure thing with money in hand, letting them see the value that was created during the company’s review of its plans. He also added that it makes their partnership with MTN stronger since it pairs a huge mobile network operator in Africa with a big digital infrastructure group.
Ralph Mupita, who is the President and CEO of MTN Group, explained that buying IHS makes MTN’s position stronger for the long haul.
He stated that this deal gives them a chance to buy back their towers. It makes them a better partner for the countries where they do business. He promised that they will keep things honest and fair in what will become the biggest independent tower company in Africa.
How the Deal Works
The IHS Towers Board of Directors all agreed this was a good idea and told shareholders to go for it.
MTN already owns about 24% of IHS. They said they’d vote their shares to approve the deal. Wendel, another big investor, is also on board. With their support, over 40% of shareholders are already backing the deal.
The deal gives shareholders cash right away. This comes after a review of the company’s plans, which was started due to shaky economic times in many markets.
What Led to This
Before this agreement, there were reports that MTN Group wanted to buy the 75% of IHS Holding Limited that it didn’t already own.
MTN had warned investors that tit wasthinking about buying out the other shareholders of IHS, which is listed on the New York Stock Exchange.
At the time, the company said that any deal could change its stock price a lot. It advised shareholders to be careful until they heard more.
How It Will Be Paid For and When It Will Happen
The deal should be done in 2026. This will happen if shareholders and regulators say it’s okay, and if other normal steps are taken.
Here’s the money breakdown:
MTN will provide about $1.1 billion in cash.
IHS Towers will kick in about $1.1 billion from its own funds.
MTN will keep its current 24% stake in the company.
Existing IHS debt will be carried over.
IHS has to keep at least $355 million in cash when the deal closes.
To finish the deal, IHS also needs to sell its tower business and fibre operations in Latin America. This was announced earlier in February 2026.
J.P. Morgan is helping IHS Towers as a financial advisor. Latham & Watkins LLP and Walkers (Cayman) LLP are their legal advisors. BofA Securities and Citigroup Global Markets Limited are the financial advisors for MTN, while Cravath, Swaine & Moore LLP are giving legal advice.
Important Details
IHS Towers started in 2001, focusing on Nigeria. Now, it’s one of the largest independent owners and operators of shared telecom towers in the world.
Based in London and listed on the NYSE since its 2021 IPO, IHS manages more than 37,000 towers. These are spread across seven African countries, including Nigeria, South Africa, Cameroon, Côte d’Ivoire, and Zambia, as well as Brazil and Colombia in Latin America.
