MTN Group Limited has agreed to acquire IHS Holding Limited in an all-cash transaction valued at $6.2 billion, with the telecommunications infrastructure operator's shareholders to receive $8.50 per share. The board of IHS Towers has unanimously approved the merger, which represents a significant premium to valuations discussed during the company's strategic review process earlier this year.
The transaction reflects MTN's strategy to consolidate tower assets within its portfolio, consolidating ownership of critical telecommunications infrastructure across its operations. Upon completion, anticipated in 2026, IHS Towers will become a wholly owned subsidiary of MTN and will be delisted from public markets. The deal remains subject to customary closing conditions and regulatory approvals from relevant authorities.
This acquisition marks a consolidation in the tower infrastructure sector, where companies have increasingly pursued vertical integration strategies. The $8.50 per-share consideration represents a substantial valuation multiple for the independent tower operator, underscoring the strategic importance of passive infrastructure assets in the telecommunications industry.