Telecom titan MTN Group eyes global tower company IHS

The telco cautioned shareholders that if concluded, it may have a material effect on the price of the company’s securities; shareholders were advised to exercise caution when dealing in the company’s securities.

by Dumisani Sigogo

As the African telecoms market continues to evolve rapidly, MTN Group, the continent's largest telecom carrier, is looking to acquire HIS Towers, one of the world's largest independent owners, operators, and developers of shared communications infrastructure.

IHS Towers manages over 40,000 towers in Africa, Latin America, and the Middle East, providing mission-critical, carrier-neutral infrastructure to mobile network operators and internet service providers, enabling wireless voice and data services.

As of early this year, the company had a market capitalisation of around $2.67 billion and focused on developing, acquiring, and upgrading site infrastructure.

Today, MTN Group confirmed that it is in advanced negotiations with IHS to acquire the 75% of IHS shares that it does not already own (the Transaction), with a potential offer price close to IHS's last trading price on the New York Stock Exchange (as of 4 February 2025).

In a trading update, the telco said: “No final agreement has been reached, and there is no certainty of the Transaction concluding. The Transaction, if concluded, may have a material effect on the price of the company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the company’s securities until a further announcement is made.

“Should the Transaction not materialise, MTN will continue to explore options to unlock value from its investment in IHS and remains committed to its disciplined capital allocation framework.”

MTN concluded by saying it will not comment further on the matter.