MTN today announced that it is in advanced discussions with IHS to acquire the 75% shares in the towers company it does not already own, with a potential offer price close to IHS's last trading price on the New York Stock Exchange (as of 4 February 2025), which has recently increased significantly.
IHS Towers is one of the world's largest independent owners, operators, and developers of shared communications infrastructure, managing over 40,000 towers across Africa, Latin America, and the Middle East.
MTN released a cautionary statement on the Johannesburg Stock Exchange, informing shareholders and investors that it was addressing recent reports about its plans for its stake in the towers company.
The company said: “No final agreement has been reached, and there is no certainty of the transaction concluding. If concluded, the transaction may have a material effect on the price of the company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the company’s securities until a further announcement is made.”
It added: “Should the transaction not materialise, MTN will continue to explore options to unlock value from its investment in IHS and remains committed to its disciplined capital allocation framework. “
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