MTN Group, one of Africa’s largest mobile network operators, has announced plans to acquire full ownership of IHS Towers, a major digital infrastructure company with extensive operations across the continent.
In a statement released on February 17, 2026, MTN disclosed that the board of IHS Towers has accepted an offer of $8.50 per share, a transaction that would see MTN increase its stake in the company to 100 percent, subject to regulatory and shareholder approvals .
Okay News reports that the proposed deal follows IHS Towers’ recent decision to divest its Latin American assets, after which MTN intends to acquire the entirety of IHS’s remaining business. IHS currently operates nearly 29,000 telecommunications towers in Africa, supporting multiple mobile network operators across five key MTN markets.
MTN already holds about 24.7 percent of IHS Towers. Under the proposal, the group plans to take IHS private through a cash merger, leading to the company’s delisting from the New York Stock Exchange.
The transaction values the remaining shares MTN does not own at approximately $2.2 billion, to be funded through a combination of cash on IHS’s balance sheet, MTN’s available liquidity, and debt facilities.
“This proposed transaction is a pivotal step in further strengthening MTN Group’s strategic and financial position for a future where digital infrastructure will become ever more essential to Africa’s growth and development,” said Ralph Mupita, MTN Group President and Chief Executive Officer. “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.”
MTN said reintegrating the tower assets would allow the group to internalise margins currently paid to IHS, improve cost predictability, and unlock long-term value through third-party revenues and operational efficiencies.
For IHS shareholders, the offer represents a 9.7 percent premium to the company’s 30-day volume-weighted average share price prior to MTN’s earlier cautionary announcement. Long-term shareholder Wendel has already signalled support for the deal, committing to vote in favour of the transaction, which secures about 40 percent of the minimum two-thirds shareholder approval required.
Commenting on the development, Sam Darwish, Chairman and CEO of IHS Towers, said: “The proposed transaction deepens our long-standing partnership with MTN as it combines Africa’s largest mobile network operator with one of its largest digital infrastructure platforms and underscores the strong connection between IHS Towers and the African continent.”
MTN added that the acquisition would not require new equity issuance at group level, although it may lead to a short-term increase in leverage. The company expects the transaction to be accretive to earnings and cash flow over time.
