MTN Group has reached an agreement to acquire IHS Towers, one of the world’s largest independent owners and operators of shared telecom infrastructure, in an all-cash transaction that values the company at an enterprise value of approximately $6.2 billion.

The deal follows weeks of negotiations between both parties.

Under the terms of the merger agreement, IHS shareholders will receive $8.50 per ordinary share in cash, representing a 36% premium to its 52-week volume-weighted average price, and a modest 3% premium to its unaffected closing price of $8.23 on February 4, 2026.

Chairman and CEO of IHS Towers, Sam Darwish, described the agreement as a compelling opportunity to crystallise value built over the company’s 25-year history.

“Today’s announcement creates a compelling opportunity that provides certainty and immediate returns for our shareholders, enabling them to crystallize the significant value generated during our strategic review.

The proposed transaction deepens our long-standing partnership with MTN, as it combines Africa’s largest mobile network operator with one of its largest digital infrastructure platforms, and underscores the strong connection between IHS Towers and the African continent,” he said.

MTN’s Group President and CEO, Ralph Mupita, said the transaction would strengthen the company’s strategic and financial position as digital infrastructure becomes increasingly central to economic development on the continent

For IHS customers and partners across the continent, we commit to continuing high standards of service and the right governance of what is the largest standalone and integrated tower company in Africa, enabled by the excellent people within HIS,” he said.

IHS Towers’ Board of Directors has unanimously approved the transaction and recommended it to shareholders.

Meanwhile, J.P. Morgan is acting as financial advisor to IHS Towers, and Latham & Watkins LLP and Walkers (Cayman) LLP are acting as legal counsel to IHS Towers.

BofA Securities and Citigroup Global Markets Limited are acting as financial advisors to MTN; Cravath, Swaine & Moore LLP are acting as legal advisors.