IHS Towers Agrees to Be Bought by MTN Group for $6.2 Billion

By Elias Schisgall

IHS Towers has agreed to be acquired by MTN Group in a $6.2 billion all-cash deal.

The telecommunications company said Tuesday that MTN, a South Africa-based mobile operator, has agreed to pay $8.50 a share to IHS shareholders, which it said was a 36% premium to the company's one-year weighted average share price as of Feb. 4.

Shares of IHS were holding roughly flat at $8.27 in Tuesday morning trading.

IHS said it expects to exceed 40% shareholder support for the deal after MTN, which has a roughly 24% stake in IHS, and longtime shareholder Wendel both said they would vote in favor of the deal. The transaction is expected to close this year.

The company announced earlier Tuesday that it has agreed to sell its Latin America tower operations to Macquarie Asset Management in a deal with an enterprise value of $952 million. It said that sale and the divestment from its Latin American fiber operations need to be completed for MTN's acquisition to close.

The acquisition and divestiture from IHS's Latin American operations follows the company launching a strategic review in March 2024.

"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," IHS Chief Executive Officer Sam Darwish said.

The transaction will be funded with the rollover of MTN's equity stake in IHS, along with $1.1 billion in cash from MTN and $1.1 billion in cash from the IHS balance sheet.

Write to Elias Schisgall at [e-mail]

(END) Dow Jones Newswires

02-17-26 1045ET