IHS Holding — the world’s largest independent tower company outside the US and China — owns ~38,000 towers across 10 African and Middle Eastern markets, with ~18,000 in Nigeria. MTN Group agreed to acquire IHS for $6.2bn (announced February 2026; IHS EGM approved August 4, 2026). MTN now seeking to sell 30% Nigerian stake (~$1.1bn) to Nigerian buyers.
Company Profile
Key Developments
MTN $6.2bn acquisition: IHS EGM approved August 4, 2026; regulatory approvals pending. N100bn revolving credit secured Q1 2026 (expandable to N200bn). MTN seeking to sell 30% Nigerian stake (~$1.1bn) to Nigerian buyers. IHS divesting LatAm (Brazil, Colombia) as deal condition.
Key Risks
Regulatory approvals across multiple markets pending. Nigerian 30% stake sale adds complexity. If deal fails, IHS faces standalone refinancing challenges.
What Happens Next
Regulatory approvals and deal close (Q4 2026/Q1 2027). 30% Nigerian stake sale to local buyers — active opportunity.