MTN Clears Major Hurdle in $6.2 Billion IHS Towers Takeover Following Shareholder Vote

IHS Shareholders Approve $6.2B Sale to MTN, Paving Way for Telco Infrastructure Merger

MTN Group has moved closer to acquiring full ownership of IHS Holding Limited after IHS shareholders overwhelmingly approved the deal during an Extraordinary General Meeting (EGM) on August 4, 2026. The approval checks off a major requirement for the transaction, though regulatory approvals across key markets are still pending.

First announced in February 2026, the proposed buyout will see MTN acquire all remaining shares in IHS Holding Limited. The deal unites Africa’s largest mobile network operator with one of the continent’s top telecom infrastructure providers.

According to MTN, the transaction supports its Ambition 2030 strategy, which positions digital infrastructure as a central driver of long-term growth and value creation.

“The approval by IHS shareholders is an important step toward completing the transaction. Under our Ambition 2030 three-platform strategy, towers are a critical value-creation driver that will strengthen MTN’s strategic and financial position in a world where digital infrastructure and AI are becoming essential to Africa’s growth,” said Ralph Mupita, President and CEO of MTN Group.

The deal highlights a broader trend in Africa’s telecom sector, where infrastructure ownership is becoming highly strategic. Mobile towers were once viewed as passive assets strictly for coverage; now, driven by rising demand for 5G, cloud services, edge computing, and AI applications, tower networks are increasingly seen as the core foundation of the continent’s digital economy.

By fully integrating IHS Towers into its operations, MTN aims to bolster its digital infrastructure while backing future network expansion across its markets.

At the EGM, shareholders representing over 264 million ordinary shares passed every board-backed proposal approving both the merger agreement and its execution plan. Because the main merger resolution carried, a fallback proposal to adjourn the meeting was rendered unnecessary.

While shareholder approval is a major milestone the acquisition is not yet complete. MTN confirmed the transaction remains subject to final regulatory approvals across key markets.

If finalized, the deal will stand as one of the largest infrastructure transactions in African telecom history underscoring the growing convergence of mobile operations and digital infrastructure as providers prepare for the continent’s next phase of digital growth.