Business Wire·Feb 17, 2026, 9:58 AM ET

IHS Towers Announces Proposed Sale to MTN Group Limited for Approximately $6.2 Billion

IHS Towers has entered a merger agreement to be acquired by MTN Group Limited for $8.50 per share in an all-cash transaction valued at an enterprise value of approximately $6.2 billion.
The offer price represents a 239% premium over the share price on March 12, 2024, a 36% premium to the 52-week VWAP, and a 3% premium over the closing price of $8.23 on February 4, 2026.
IHS Towers' Board of Directors unanimously approved the agreement and recommended shareholder approval of the transaction.
MTN has pledged to vote all its IHS shares in favor of the deal, while long-term shareholder Wendel provided a letter of support, securing over 40% combined shareholder backing.
Upon completion, IHS Towers will cease public listing and become a wholly owned subsidiary of MTN, with the transaction expected to close in 2026 pending regulatory and shareholder approvals.
Funding for the acquisition will come from MTN's existing 24% stake, $1.1 billion in cash from MTN, $1.1 billion in cash from IHS Towers' balance sheet, and the rollover of existing debt.
The deal is contingent on the successful sale of IHS Towers' Latin American tower operations (announced February 17, 2026) and fiber operations (announced February 11, 2026).
IHS Towers must maintain a minimum cash balance of $355 million at closing to satisfy transaction requirements.
J.P. Morgan served as financial advisor to IHS Towers, while BofA Securities and Citigroup Global Markets Limited advised MTN.