MTN in advanced talks to buy back IHS tower stake
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MTN Group said it is in advanced negotiations to acquire the remaining 75% stake in tower company IHS Holdings, in a deal that could be valued at around US$2.76 billion.
The operator said any potential transaction would be priced at IHS’s last closing share price. Reuters reported the deal could be struck at US$8.23 per share, based on IHS’s closing price on 3 February on the New York Stock Exchange.
No final agreement has yet been reached, with talks ongoing as MTN looks to regain control of passive infrastructure it has sold over the past decade through sale-and-leaseback arrangements. The pan-African operator is IHS’s largest tenant across several markets.
MTN added that if the transaction does not materialise, it would explore alternative options to extract value from its existing stake in IHS Holdings.
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