Regulation

MTN’s IHS purchase approved by Nigerian competition regulator

MTN Group has reportedly secured conditional approval from Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) for its proposed acquisition of the remaining stake in tower company IHS Holding Limited.

This marks what many news outlets see as a major regulatory milestone in the telecommunications group’s planned US$2.2 billion takeover of IHS.

However, the FCCPC has approved the transaction on the condition that MTN sells down up to 30% of the Nigerian component of the IHS business at market prices over time, something that MTN has indicated that it is comfortable with, saying: “As part of the conditional approvals, MTN will sell-down 30% of IHS Nigeria to local Nigerian investors, on an arms-length commercial basis and subject to market conditions.?

The approval follows shareholder approval of the transaction by IHS Towers shareholders at an extraordinary general meeting, as we reported earlier this month.

With the FCCPC clearance out of the way and other regulatory approvals secured or progressing, MTN expects to complete the acquisition in the second half of 2026. This will bring a significant portion of MTN’s passive network infrastructure that was formerly sold to free up cash back under its control.

According to the TechAfrica News website, the transaction is expected to strengthen MTN’s ownership of critical digital infrastructure across its African markets and create opportunities for long-term value generation.

The acquisition would bring the tower assets further under MTN’s ownership, supporting the group’s broader strategy of strengthening its infrastructure portfolio.

Meanwhile, of course, the FCCPC approval removes a key regulatory hurdle as MTN moves towards completing the acquisition and consolidating greater ownership of IHS Towers’ infrastructure in Nigeria and across its wider operating footprint.



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