MTN Group has agreed to acquire IHS Towers in an all-cash transaction valuing the company at an enterprise value of about $6.2 billion. Under the merger terms, IHS shareholders will receive $8.50 per ordinary share, representing a 36 percent premium to its 52-week volume weighted average price and a 3 percent premium to its unaffected closing price on February 4, 2026. The deal follows weeks of negotiations and forms part of MTN’s strategy to consolidate digital infrastructure assets across its footprint.
IHS Chairman and CEO Sam Darwish described the agreement as an opportunity to deliver certainty and immediate value to shareholders while strengthening a long-standing partnership with MTN. MTN Group President and CEO Ralph Mupita said the acquisition would reinforce the company’s strategic and financial position, noting that tower infrastructure is increasingly central to economic development. IHS’s board has unanimously approved the transaction, with MTN, which already owns about 24 percent, and investor Wendel pledging support.
The transaction is expected to close in 2026 subject to shareholder and regulatory approvals. Funding will combine MTN’s existing stake rollover, new cash contributions from both companies, and existing IHS debt. Completion also depends on IHS divesting its Latin American tower and fibre assets. Founded in 2001 and listed on the New York Stock Exchange, IHS operates more than 37,000 towers across Africa and Latin America, with MTN as its largest customer.
