IHS Towers confirms MTN’s acquisition interest amid ongoing talks

IHS Towers has confirmed discussions with MTN Group Limited over a possible acquisition of the remaining shares MTN does not already own in the telecom infrastructure company.

This was revealed in a statement released on Thursday, where the New York Stock Exchange-listed tower operator said it had taken note of MTN’s cautionary announcement issued earlier in the day regarding a potential transaction and confirmed that talks between both parties are ongoing.

“IHS Towers confirms that discussions are ongoing with MTN regarding a potential acquisition by MTN of all remaining shares it does not already own in IHS Towers,” the company said in a statement on its website, cautioning investors not to interpret the update as an announcement of a completed or imminent deal.

Read also: MTN Group in advanced talks to acquire remaining 75% stake in IHS Towers

The company, however, stated that the approach remains non-binding and that no agreement has been reached, adding that there is no certainty that the discussions will result in a transaction, nor clarity on the final terms if any deal is eventually concluded.

MTN currently holds a significant minority stake in IHS Towers, and a full takeover would represent a major consolidation move in the African telecom infrastructure sector.

IHS Towers said it would provide further updates to the market as required, in line with regulatory obligations.

IHS Towers is one of the world’s largest independent owners and operators of shared telecommunications infrastructure, with more than 37,000 towers across seven markets, including Nigeria, South Africa, Brazil, Cameroon, Colombia, Côte d’Ivoire, and Zambia.

Folake Balogun is a tech journalist covering Africa’s fast-growing digital economy with a strong focus on incisive analysis of startup trends, venture capital, and fintech innovation, while also exploring emerging technologies such as artificial intelligence and the future of connectivity by highlighting their economic and social impact.

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