MTN Group, Africa’s largest telecom operator, confirmed a deal to acquire IHS Towers, a strategic reversal for MTN, which previously spun off its tower portfolio to unlock capital and boost returns. The deal, which values IHS’ equity and debt at about $6.2 billion, paves the way for the tower group’s delisting from the New York Stock Exchange.
IHS, which was founded in Lagos, operates nearly 29,000 towers across key MTN markets including Cameroon, Côte d’Ivoire, Ghana, Nigeria, and Rwanda, serving multiple mobile network operators. Bringing the towers back in-house will allow MTN to keep the profits it currently pays to IHS, better manage costs, and earn more from third-party tenants, tightening its grip on critical digital infrastructure across Africa.