IHS Towers has officially announced its definitive agreement to be acquired by MTN Group Limited in an all-cash transaction, valuing the company at an enterprise value of approximately $6.2 billion.
Under the terms, IHS Towers shareholders will receive $8.50 per ordinary share, which represents a 36% premium to the 52-week Volume-Weighted Average Price as of February 4, 2026, and a substantial 239% premium over the share price at the commencement of the company’s strategic review in March 2024. The Board of Directors of IHS Towers has unanimously approved the agreement, recommending it to shareholders. Significant shareholder support has already been secured, with MTN, a major existing shareholder, and long-term investor Wendel, committing to vote in favor, collectively representing over 40% of shareholder agreement.
The transaction, expected to close in 2026, will result in IHS Towers becoming a wholly owned subsidiary of MTN and its shares being delisted. Funding for the acquisition includes the rollover of MTN’s existing 24% stake, approximately $1.1 billion in cash from MTN, $1.1 billion from IHS Towers’ balance sheet, and the rollover of existing debt.
This strategic move is poised to strengthen MTN's digital infrastructure footprint across Africa and provides IHS Towers shareholders with immediate and certain value realization.
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