MTN Group to acquire the remaining 75.3% stake in IHS Towers at a $6.2bn enterprise value.

MTN Group, a pan-African mobile operator, agreed acquire the remaining 75.3% stake in IHS Towers, a telecommunications infrastructure provider, at a $6.2bn enterprise value. Upon closing, Wendel will receive full liquidity on its c.19% stake in IHS, representing proceeds of approximately $535m to Wendel. "This proposed transaction is a pivotal step in further strengthening MTN Group’s strategic and financial position for a future where digital infrastructure will become ever more essential to Africa’s growth and development. This transaction gives us a unique opportunity to buy back our towers and strengthen our ability to be partners for progress to the nation states in which we operate. 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 IHS," Ralph Mupita, MTN Group President and CEO.