Africa's largest mobile operator MTN Group is in advanced talks to acquire the 75 of IHS Towers it does not already own, in a deal that would value one of the worlds biggest independent tower companies at approximately USD 2.7 B.
If completed, the transaction would hand MTN full control of critical network infrastructure across key markets like Nigeria and South Africa, marking a dramatic reversal after years of selling its towers to specialist companies to save cash .
MTN confirmed in a cautionary announcement to investors that any potential offer would be priced near IHS's last closing share price on the New York Stock Exchange . IHS shares closed at USD 8.23 on February 4, giving the company a market value of roughly USD 2.76 B. As of February 5, its market capitalisation was approximately USD 2.69 B.
