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MTN Group's R35billion offer accepted by IHS Towers board
Cape Times
|February 19, 2026
MTN Group said Wednesday the board of New York-listed IHS Towers had accepted a R35 billion offer, or $8.50 a share, in a deal that will see MTN increasing its shareholding to 100%.
The funding for the proposed transaction of the remaining shares MTN does not already own, for a consideration of some $2.2bn (R35.3bn at current exchange rates), will be through cash of about $1.1bn on IHS's balance sheet, along with available liquidity and debt from MTN.
MTN has approximately 24.7% shareholding in IHS.
As part of the transaction, it intends to take the company private through the acquisition of all outstanding shares it does not own, as part of a cash merger.
"This proposed transaction is pivotal in strengthening MTN's strategic and financial position for a future where digital infrastructure will become ever more essential to Africa's growth and development," said MTN Group President and CEO Ralph Mupita.
This story is from the February 19, 2026 edition of Cape Times.
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