MTN eyes remaining 75% stake in IHS Holdings

Technology group, MTN, is in discussion to acquire the roughly 75 per cent stake in IHS Holding Limited. A deal that could value the tower infrastructure firm at about $2.76 billion.

On successful completion of the discussion, MTN, Africa’s largest mobile network operator, would have full control of one of the world’s largest independent tower companies.

MTN’s roughly 25 per cent holding in IHS Towers stems from its 2014 tower sale deal, when the operator sold most of its tower assets across several African markets to IHS as part of a landmark infrastructure transaction.

In a cautionary notice to investors yesterday, MTN confirmed it was evaluating a potential transaction to buy out minority shareholders of the New York Stock Exchange-listed IHS, following recent market speculation around the company.

MTN said any potential offer would be “at a level near the last trading price” of IHS shares on the NYSE as of February 4, 2025.

IHS stock has rallied sharply in recent months, reflecting renewed investor interest in the telecoms infrastructure sector.

The company stressed that no binding agreement had been reached and there was no certainty that the discussions would result in a transaction.