MTN Seeks Local Investors for 30% Stake in IHS Nigeria in Deal Worth Up to $1.1bn

South Africa's Competition Commission recommended conditional approval for MTN's R36bn ($2.2bn) acquisition of IHS Towers, which owns 29,000 tower assets across Africa. MTN already held 25% of IHS, with the rest publicly traded on the NYSE. The deal aims to strengthen MTN's strategic and financial position in digital infrastructure, according to MTN Group CEO Ralph Mupita. The commission set conditions to prevent disadvantage to other network operators and ensure fair continental competition.

MTN received approval from the Competition Commission to acquire the remaining 75% of IHS Towers for $2.2bn, with conditions to protect competition and jobs. The deal, valued at $6.2bn, aims to boost MTN's service revenue and earnings. IHS is expected to delist from the NYSE post-acquisition. The Competition Tribunal will make the final decision.

MTN Group received approval from the Competition Tribunal to acquire the remaining 75% of IHS Towers for $2.2bn, with conditions to protect competition, jobs, and customers. The deal, valued at $6.2bn, is expected to enhance MTN's network capabilities and financial performance, with IHS set to delist from the NYSE.

Telecom industry sources allege that transactions involving Mafab Communications, IHS Towers, and MTN Nigeria could make President Bola Ahmed Tinubu a major MTN shareholder. Mafab is negotiating to transfer its spectrum assets to MTN, while MTN is acquiring IHS Towers for $6.2 billion. The deals require regulatory approval and could be completed by October. Sources claim the transactions are interconnected and involve Alpha Beta Consulting LLP, linked to Tinubu.

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 Group received conditional approval from the FCCPC for its $6.2 billion acquisition of IHS Towers, subject to disposing of up to 30% of the Nigerian business. MTN expects the deal to boost revenue and cash flow, with completion targeted for late 2026. IHS Towers shareholders have already approved the transaction, which will delist the company from the NYSE.