sold 5,701 of its towers to IHS<\/a> in 2022 for a cash consideration of R6.4 billion. This excluded lease liabilities estimated to be R4.6 billion.<\/p>\n\n\n\nUpon the completion of IHS’s announced disposals of its Latin American assets on 11 February and 17 February 2026, it is intended that MTN will acquire 100% of IHS’s remaining business.<\/p>\n\n\n\n
“IHS is one of the world\u2019s largest tower companies, with nearly 29,000 high-quality towers in Africa serving various mobile network operators in five key MTN markets,” it said.<\/p>\n\n\n\n
“The proposed transaction marks an important step to unlock compelling value for MTN and strengthen and reintegrate its ownership of critical digital infrastructure across Africa.”<\/p>\n\n\n\n
MTN said that for IHS shareholders, the proposed acquisition offers an attractive opportunity to crystallise value.<\/p>\n\n\n\n
It said the funding for the proposed transaction of the remaining shares MTN does not already own, for a consideration of some $2.2 billion (R35.4 billion), will be through a combination of cash and debt.<\/p>\n\n\n\n
MTN will use approximately $1.1 billion (R17.7 billion) of cash on IHS’s balance sheet, along with available liquidity and debt, to finance the purchase.<\/p>\n\n\n\n
“MTN has approximately 24.7% shareholding in IHS. As part of the transaction, it intends to take the company private through the acquisition of all outstanding shares it does not own, pursuant to a cash merger.”<\/p>\n\n\n\n
By reintegrating the tower assets, MTN said it will be able to internalise the margin currently paid to IHS.<\/p>\n\n\n\n
It will also benefit from current and future incremental third-party revenues, improve cost predictability and unlock significant long-term value embedded in its existing investment.<\/p>\n\n\n\n
“This proposed transaction is a pivotal step in further strengthening MTN Group\u2019s strategic and financial position for a future where digital infrastructure will become ever more essential to Africa\u2019s growth and development,” said MTN Group President and CEO Ralph Mupita.<\/p>\n\n\n\n
“This transaction gives us a unique opportunity to buy back our towers and strengthen our ability to be partners for progress to the nation-states in which we operate.”<\/p>\n\n\n\n
Mupita said that MTN commits to maintaining high service standards and sound governance for IHS customers and partners across the continent.<\/p>\n\n\n\n
MTN said that the $8.50 per share offer translates to a 9.7% premium to the 30-day volume-weighted average price as at 4 February 2026.<\/p>\n\n\n\n
Long-term IHS shareholder Wendel has provided a letter of support to vote in favour of the transaction and will receive full liquidity on its shares upon closing.<\/p>\n\n\n\n
With support from Wendel and certain affiliates, and MTN able to vote at a general meeting, roughly 40% of the minimum two-thirds approval of voting shareholders has already been secured.<\/p>\n\n\n\n
MTN noted that the proposed transaction is subject to IHS shareholder approval, regulatory approvals in the relevant markets and customary closing conditions.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
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