MTN Eyes $1.1bn From 30% IHS Nigeria Stake Sale

MTN Group is acquiring IHS Holding Limited, valuing it at $6.2B. IHS shareholders will receive $8.50 per share. The deal raises antitrust concerns as MTN, Africa's largest mobile operator, would own infrastructure used by competitors. Regulators have granted conditional approval, requiring MTN to sell 30% of the Nigerian IHS business to local investors.

MTN Nigeria reached 100.86 million subscribers in July, per NCC data, becoming the first African telecom operator to surpass 100 million. The company added 2.22 million subscribers, contributing to Nigeria's industry recovery. MTN holds 51.7% of Nigeria's active mobile market, with Airtel, Globacom, and 9mobile following.

FTSE Russell added 10 Nigerian companies, including Dangote Cement, MTN Nigeria, and Zenith Bank, to its FTSE Frontier Index, reclassifying Nigeria as a Frontier Market. The change takes effect on Sept. 21, aiming to boost global investor interest in Nigerian equities.

MTN and Bharti Airtel ended merger talks, citing unresolved issues. The $24bn deal would have created a top-3 telecoms firm. Both companies and governments deny political interference, but regulatory hurdles were cited. Discussions on future frameworks will continue.

Vail Resorts faces a third lawsuit this year, this time from investor Gary Peterson, alleging anticompetitive practices and breaches of fiduciary duty by executives. The complaint cites prior lawsuits accusing Vail of colluding to fix pass prices and inflating day passes. Vail denies the claims, stating it will defend itself vigorously. The case involves pricing of the Epic Pass, which generated 65% of lift revenue in fiscal 2025.

MTN Ghana led MTN Group's mobile money business in H1 2026, with the fastest service-revenue growth (32.3%) and highest profit margin (61.8%) among principal markets. It generated R22.13 billion in service revenue, ranking second after Nigeria. EBITDA grew 40% to R13.74 billion, contributing 24.5% of group EBITDA.