MTN Group has applied to the Johannesburg Stock Exchange for approval to acquire a controlling stake in IHS Towers, a move that could reshape Africa's telecommunications infrastructure landscape and mark a major strategic shift for the continent's largest mobile operator.
In a notice to investors on Thursday, MTN said it is in advanced discussions to purchase 75 of IHS Towers, which would make it the majority shareholder in the independent tower company. The telco cautioned that talks are ongoing and that there is no certainty the transaction will be completed, urging shareholders to exercise caution until further disclosures are made.
IHS Towers, founded in Nigeria in 2001, operates about 40,000 towers across Africa, Latin America and the Middle East, making it one of the world's largest independent providers of shared telecommunications infrastructure. The company is listed on the New York Stock Exchange and has a market capitalisation of about 2.76 billion, with its shares trading at 8.23 on February 5, 2026.
