MTN gets Competition Commission nod for IHS takeover

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.

MTN Group is in talks with local investors to sell a 30% stake in IHS Nigeria, as required by regulators. The deal, part of MTN's $2.2B acquisition of IHS Towers, could raise $900M-$1.1B. Regulators mandated the sale to ensure fair competition and local investment in critical infrastructure. IHS Nigeria operates 18,000 mobile towers and will delist from the NYSE post-acquisition.

MTN Group seeks local investors to buy a 30% stake in IHS Nigeria, valued at $900M-$1.1B, to comply with a regulatory agreement and reduce debt, according to sources. IHS Nigeria operates 18,000 towers, part of IHS Holdings' 29,000-tower portfolio across Africa. MTN aims to use proceeds to pay down IHS-related debt.