MTN Eyes Full Control of IHS in Strategic Tower Takeover Move
MTN Group, Africa’s largest mobile network operator, is in advanced talks to acquire the remaining 75% stake in IHS Holdings Limited, a move that would give the telecom giant full ownership of one of the world’s largest independent tower companies.
If completed, the deal would mark a major strategic shift for MTN, bringing critical network infrastructure back in-house after years of outsourcing tower operations to specialist providers like IHS.
What’s on the Table
The proposed acquisition is expected to be priced close to IHS’s last trading value on the New York Stock Exchange as of February 4, 2026. IHS shares closed at $8.23, giving the company a market capitalisation of about $2.76 billion.
MTN already owns a significant stake in IHS, and the transaction would see it buy out the remaining shares to gain full control.
Why This Deal Matters
For years, MTN — like many global telecom operators — has relied on third-party tower companies to host its network equipment. While this model helped operators free up capital and reduce operational complexity, it also meant long-term lease commitments and less direct control over infrastructure.
By potentially acquiring IHS outright, MTN would reverse that model, integrating tower assets directly into its operations. This could offer stronger cost control, improved network planning and long-term efficiency, especially as data demand continues to surge across Africa.
A Nigerian Success Story Goes Full Circle ➡️
Founded in Nigeria in 2001, IHS Towers has grown from a local startup into a global infrastructure powerhouse. Today, it operates around 40,000 towers across Africa, Latin America and the Middle East, serving as a backbone for mobile connectivity in emerging markets.
MTN remains IHS’s largest customer, making the operational relationship between both companies deeply intertwined.
Market Impact and Investor Caution ⚠️
MTN has warned that the potential transaction could have a material impact on its share price, advising shareholders to exercise caution when trading the stock until further updates are released.
The acquisition would also reshape MTN’s balance sheet and capital allocation strategy, potentially increasing asset ownership while reducing long-term lease expenses.
If the Deal Doesn’t Happen
MTN has made it clear that even if negotiations fall through, it will continue to explore other ways to unlock value from its existing IHS investment, in line with its disciplined capital management approach.
Big Picture Takeaway
This move signals a broader rethink in telecom strategy: infrastructure control is becoming just as important as service delivery. For MTN, full ownership of IHS could strengthen its competitive position across key growth markets — but investors will be watching closely for clarity on pricing, funding structure and long-term returns.
MTN Group, Africa’s largest mobile network operator, is in advanced talks to acquire the remaining 75% stake in IHS Holdings Limited, a move that would give the telecom giant full ownership of one of the world’s largest independent tower companies.
If completed, the deal would mark a major strategic shift for MTN, bringing critical network infrastructure back in-house after years of outsourcing tower operations to specialist providers like IHS.
What’s on the Table
The proposed acquisition is expected to be priced close to IHS’s last trading value on the New York Stock Exchange as of February 4, 2026. IHS shares closed at $8.23, giving the company a market capitalisation of about $2.76 billion.
MTN already owns a significant stake in IHS, and the transaction would see it buy out the remaining shares to gain full control.
Why This Deal Matters
For years, MTN — like many global telecom operators — has relied on third-party tower companies to host its network equipment. While this model helped operators free up capital and reduce operational complexity, it also meant long-term lease commitments and less direct control over infrastructure.
By potentially acquiring IHS outright, MTN would reverse that model, integrating tower assets directly into its operations. This could offer stronger cost control, improved network planning and long-term efficiency, especially as data demand continues to surge across Africa.
A Nigerian Success Story Goes Full Circle ➡️
Founded in Nigeria in 2001, IHS Towers has grown from a local startup into a global infrastructure powerhouse. Today, it operates around 40,000 towers across Africa, Latin America and the Middle East, serving as a backbone for mobile connectivity in emerging markets.
MTN remains IHS’s largest customer, making the operational relationship between both companies deeply intertwined.
Market Impact and Investor Caution ⚠️
MTN has warned that the potential transaction could have a material impact on its share price, advising shareholders to exercise caution when trading the stock until further updates are released.
The acquisition would also reshape MTN’s balance sheet and capital allocation strategy, potentially increasing asset ownership while reducing long-term lease expenses.
If the Deal Doesn’t Happen
MTN has made it clear that even if negotiations fall through, it will continue to explore other ways to unlock value from its existing IHS investment, in line with its disciplined capital management approach.
Big Picture Takeaway
This move signals a broader rethink in telecom strategy: infrastructure control is becoming just as important as service delivery. For MTN, full ownership of IHS could strengthen its competitive position across key growth markets — but investors will be watching closely for clarity on pricing, funding structure and long-term returns.