MTN Group Bid to Secure a 75% Stake in IHS

Africa’s telecom sector may be heading for one of its biggest shake-ups yet as MTN Group confirms it is in advanced discussions to take control of IHS Towers. The potential deal, if finalised, would give MTN a 75% stake in the tower giant, marking a sharp shift in how the operator manages its infrastructure footprint across its key markets.

The company notified investors that it had already applied to the Johannesburg Stock Exchange (JSE) for approval, explaining that talks were well under way but far from concluded. In the statement, MTN noted that “no final agreement has been reached, and there is no certainty of the transaction concluding” while urging shareholders to remain cautious until a formal update is shared.

A Strategic Push Into Infrastructure Control

The prospect of MTN acquiring IHS Towers has attracted attention across the industry, partly because of IHS’s history and scale. Founded in Nigeria in 2001, the firm has grown into one of the world’s largest independent tower operators, managing around 40,000 sites spread across Africa, the Middle East and Latin America. It is also publicly traded on the New York Stock Exchange, where it recently posted a market capitalisation of $2.76 billion, with shares priced at $8.23 as of 5 February 2026.

Although MTN, like other mobile operators, has traditionally relied on third-party tower companies for hosting its equipment, the proposed acquisition signals a desire for greater control. The neutral-host model offered by IHS has helped operators share infrastructure and cut capital expenditure for years. Yet MTN’s move hints at a long-term strategy to internalise key assets, lower operational costs and accelerate service delivery.

Nigeria, IHS’s largest market, illustrates the scale of the opportunity for MTN. The country accounted for nearly 59% of IHS’s revenue in Q3 2025, making the acquisition significant for any operator seeking deeper influence in the region.