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IHS Towers has moved a step closer to becoming a wholly owned subsidiary of MTN Group after shareholders approved the telecommunications giant’s proposed $6.2 billion acquisition of the tower infrastructure company. The approval marks a significant milestone in one of Africa’s largest telecom transactions, although the deal still requires regulatory clearance in multiple jurisdictions before it can be completed.
The shareholder vote, held during a special meeting, secured the required support for the acquisition, paving the way for the next phase of the transaction. Once all conditions are met, IHS Towers will be delisted from the New York Stock Exchange (NYSE) and operate as a wholly owned subsidiary of MTN Group.
A Landmark Deal for Africa’s Telecom Sector
MTN first announced plans to acquire the remaining 75% stake in IHS Towers that it did not already own in February 2026, valuing the company at approximately $6.2 billion. Under the agreement, shareholders are expected to receive $8.50 per share in cash, representing a premium over the company’s trading price at the time the deal was announced.
The acquisition is regarded as one of the most significant infrastructure deals in Africa’s telecommunications industry, reflecting MTN’s long-term strategy to strengthen control over critical network assets across its operating markets.
Regulatory Reviews Still Outstanding
Despite the shareholder approval, the transaction is not yet complete. The acquisition remains subject to approvals from regulators in the countries where both companies operate, alongside other customary closing conditions.
In Nigeria, government authorities have indicated that the proposed acquisition will undergo comprehensive regulatory scrutiny because of the strategic importance of telecommunications infrastructure to national security and the broader digital economy.
Industry analysts expect regulators to assess the deal’s potential impact on market competition, infrastructure ownership and long-term investment in telecom services before granting final approval.
Why MTN Wants Full Ownership
The acquisition aligns with MTN Group’s strategy of integrating more of its network infrastructure under direct ownership.
IHS Towers owns and manages thousands of telecom towers across Africa, including a substantial portfolio in Nigeria that supports MTN and other mobile network operators. Bringing those assets under MTN’s control is expected to improve operational efficiency, simplify infrastructure management and strengthen the group’s long-term earnings potential.
The transaction also follows IHS Towers’ earlier decision to streamline its business by exiting certain non-core operations outside Africa.
Implications for Nigeria’s Telecom Industry
Nigeria remains one of IHS Towers’ largest markets, making the acquisition particularly significant for the country’s telecommunications sector.
Industry stakeholders believe the transaction could enhance infrastructure planning, network expansion and service reliability by enabling closer coordination between tower operations and MTN’s mobile network business. However, regulators are also expected to examine the implications for infrastructure sharing and fair access for competing telecom operators.
The outcome of the review could shape future investment trends within Nigeria’s telecommunications ecosystem.
Consolidation Continues Across the Sector
The proposed takeover reflects a broader wave of consolidation sweeping Africa’s telecommunications industry, where operators are increasingly seeking greater control over strategic infrastructure to improve efficiency and reduce operating costs.
Recent years have seen major investments, mergers and asset restructuring across telecom and digital infrastructure businesses as operators position themselves for rising demand driven by 5G deployment, cloud services and expanding digital connectivity.
Next Steps
With shareholder approval now secured, attention shifts to regulatory authorities whose decisions will determine when the transaction can be completed.
If the remaining approvals are granted, MTN will complete one of the continent’s biggest telecom acquisitions, further strengthening its position as Africa’s largest mobile network operator while bringing one of the region’s leading tower infrastructure companies fully under its ownership.
