MTN Group Wins Conditional Approval for $2.2 Billion IHS Towers Deal
MTN Group received conditional regulatory approval in Nigeria to acquire the remaining stake in IHS Towers for $2.2 billion, subject to a 30% stake sell-down.
The Federal Competition and Consumer Protection Commission (FCCPC) and the Nigerian Communications Commission (NCC) have granted conditional approval for MTN Group to acquire the remaining stake in IHS Towers for approximately $2.2 billion. The transaction values IHS Towers at an enterprise value of $6.2 billion and aims to bring passive network infrastructure back under the telecommunications group's control.
To prevent market dominance and protect rivals such as Airtel and T2 Mobile, the FCCPC requires MTN to sell up to 30% of its interest in IHS Nigeria to local investors at market prices. This sell-down is expected to raise between $900 million and $1.1 billion. Additionally, the NCC's Approval-in-Principle mandates that existing contracts remain unchanged and prohibits exclusivity agreements.
MTN CEO Ralph Mupita confirmed the company is comfortable with these terms, noting that the proceeds from the local sell-down will be used to pay down IHS-related debt. The acquisition still requires regulatory reviews in South Africa, Côte d’Ivoire, Cameroon, and Zambia. MTN expects to complete the transaction in the second half of 2026.
Keep reading in the app
The full story and every source, free in the app.
Coming soonGoogle Play