MTN to acquire controlling stake in IHS Holdings, eyes full ownership

MTN Group, Africa’s largest mobile network operator, is in advanced discussions to acquire the remaining 75% stake in IHS Holdings Limited, aiming to gain full ownership of the tower infrastructure company.

The potential deal could be priced near IHS’s last trading value on the New York Stock Exchange as of February 4, 2026. MTN, like many operators, has relied on third-party tower companies such as IHS to host its network equipment.

IHS Towers, founded in Nigeria in 2001, has grown from a homegrown startup into one of the world’s largest independent tower companies, operating roughly 40,000 towers across Africa, Latin America, and the Middle East.

Listed on the New York Stock Exchange, the company has seen a notable financial rebound, with a market capitalisation of $2.76 billion. Its share price on Thursday, February 5, 2026, was at $8.23

This acquisition would mark a significant shift in MTN’s strategy, bringing tower infrastructure back in-house after years of outsourcing to specialized operators like IHS.

The deal is expected to have a material impact on MTN’s share price, prompting the company to advise shareholders to exercise caution in trading until further updates.

MTN already holds a significant stake in IHS and maintains a deep operational partnership across multiple African markets. IHS Towers boasts a global footprint, managing approximately 40,000 towers spanning Africa, Latin America, and the Middle East.

Based on industry data, IHs serves as a critical backbone for mobile connectivity in emerging markets, with MTN as its largest customer.
If the deal falls through, MTN said it would continue exploring options to unlock value from its IHS investment, consistent with its disciplined capital allocation strategy.