- M&A
- February 17, 2026
- 2 minutes read
MTN Group To Buy IHS Towers In $6.2B Deal
South African telecoms giant MTN Group (JSE: MTN) has struck a deal to acquire IHS Holding (NYSE: IHS), Africa’s largest…
South African telecoms giant MTN Group (JSE: MTN) has struck a deal to acquire IHS Holding (NYSE: IHS), Africa’s largest telecoms tower operator. MTN, already a major IHS shareholder, will pay $2.2bn in cash for the 75% stake it doesn’t already own. It’ll also assume IHS Holding’s existing debt load, pushing the deal’s value to $6.2bn.
IHS Holding, also known as IHS Towers, was founded in Nigeria in 2001. It manages over 37,000 telecom towers across Nigeria, South Africa, Rwanda, Cameroon, and several other African countries. It also has tower assets in Brazil and Colombia.
- The acquisition will give MTN Group direct control of an expansive tower network it previously leased from IHS. MTN is Africa’s largest telecoms provider, with over 300 million customers and $10bn in annual revenue.
- Under the terms of the acquisition, IHS will divest its towers in Brazil and Colombia, leaving only its 29,000 African towers.
Direct control of IHS Towers’ assets will reduce MTN’s long-term rental costs as it invests heavily in 5G and fibre rollout. It’s a strategic shift in the African telecoms industry, which has long favored tower leasing rather than direct ownership.
MTN already owns roughly one-quarter of IHS Towers. Another major shareholder, French investment firm Wendel, with a 19% stake, has signaled support for the acquisition. The deal requires approval from two-thirds of shareholders, which will likely be obtained.
Post-acquisition, IHS Towers will become a wholly owned MTN Group subsidiary.
