MTN Group has confirmed it is in advanced discussions to acquire the 75 percent stake in IHS Holding that it does not already own, signalling a potential major consolidation move in the telecom tower infrastructure space.
MTN considers full acquisition of IHS
The telecom operator said the potential transaction is being discussed at a price close to IHS’ last trading value on the New York Stock Exchange as of February 4, 2025. The company noted that IHS’ share price has risen significantly in recent months, which could influence the final valuation.
MTN already holds a minority interest in IHS, one of the world’s largest independent owners and operators of shared telecom tower infrastructure across Africa, the Middle East and Latin America. Acquiring the remaining shares would give MTN full ownership and tighter control over a critical part of its network infrastructure strategy.
IHS Towers reported Q3 2025 revenue of about $455 million, up 8.3 percent. Adjusted EBITDA reached $261.5 million with a strong 57.5 percent margin. The company also swung to net income of $147.4 million, compared with a loss in the prior year.
No final agreement yet
MTN cautioned that no definitive agreement has been reached and there is no certainty that the transaction will be completed. The company warned that if the deal proceeds, it could materially affect the price of MTN securities.
As a result, MTN advised shareholders to exercise caution when trading its shares until further announcements are made.
Strategic importance of tower assets
A full acquisition of IHS could strengthen MTN’s long-term infrastructure strategy, potentially improving cost efficiencies, network expansion and operational control. Tower ownership is increasingly seen as a strategic asset as mobile data demand and 5G deployments accelerate across emerging markets.
Industry observers view tower consolidation as a way for telecom operators to secure long-term infrastructure access while improving margins through integrated operations and reduced leasing costs.
Alternative plans if deal does not proceed
MTN said that if the transaction does not materialise, it will continue exploring other options to unlock value from its investment in IHS. The company reaffirmed its commitment to disciplined capital allocation and shareholder value creation.
The outcome of the discussions could reshape MTN’s infrastructure ownership strategy and signal broader consolidation trends in the global telecom tower market.
BABURAJAN KIZHAKEDATH
