MTN secures shareholder vote for IHS buyout, awaits Nigeria regulator approval
IHS Holding Limited shareholders approved MTN Group's acquisition of the remaining shares at an Extraordinary General Meeting on August 4, 2026, passing the deal with a two-thirds majority. This clears a major condition following MTN's February 17, 2026 announcement to buy out the outstanding shares in the tower infrastructure company.
For Nigerians, the transaction remains pending regulatory approvals, particularly from the Nigerian Communications Commission (NCC). Minister of Communications, Innovation, and Digital Economy Dr. Bosun Tijani has called for a comprehensive review, emphasizing that telecoms infrastructure consolidation is not routine due to its sensitivity and potential impact on consumers and sector health. IHS is licensed by the NCC as a telecom infrastructure service provider, making Nigerian approval critical.
MTN already holds a minority stake in IHS and has a deep operational relationship, having sold thousands of passive network sites to IHS through sale-and-leaseback deals, including a 2022 South Africa transaction involving over 5,700 towers. A full acquisition would reverse years of infrastructure outsourcing, bringing tower assets under MTN's direct control to drive efficiencies and support its Ambition 2030 digital infrastructure strategy. The regulatory process continues across jurisdictions; stakeholders should monitor NCC's decision for potential effects on service quality, pricing, and market competition.
Will this consolidation improve your network experience or raise concerns about market concentration?