MTN Group Ltd. has agreed to acquire IHS Holding Ltd., a leading operator of telecommunications towers, in an all-cash transaction valued at 6.2 billion dollars.
The deal marks one of the largest digital infrastructure transactions in Africa and effectively reverses years of tower divestments by the continent’s biggest mobile operator.
Under the agreement announced on Tuesday, shareholders of IHS will receive 8 dollars 50 cents per ordinary share in cash. The offer represents a 239 percent premium to the company’s share price when it announced a strategic review in March 2024.
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The transaction will see MTN move from being a major tenant and minority shareholder in IHS to full ownership, strengthening its strategic and financial position and supporting long term connectivity growth across its markets. Once completed, IHS will delist from the New York Stock Exchange and become a wholly owned subsidiary of MTN.
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