NCC grants conditional approval for MTN's IHS Towers Nigeria acquisition amid competition safeguards

The Nigerian Communications Commission granted MTN Nigeria conditional Approval-in-Principle in mid-July for its proposed acquisition of IHS Towers' Nigerian business, subject to regulatory safeguards. This clears a key hurdle for MTN Group's $2.2 billion deal to acquire remaining stake in the tower company, which operates 15,848 sites in Nigeria—over half of its African portfolio.

The NCC's conditions require MTN Nigeria to comply with corporate governance guidelines, prohibit amending existing IHS contracts as a result of the transaction, prevent the deal from conferring exclusivity on MTN, and submit an investment plan with clear, measurable milestones. Separately, Nigeria's Federal Competition and Consumer Protection Commission has already granted conditional clearance, requiring MTN to sell down up to 30% of its stake in the Nigerian IHS component to local Nigerian investors on an arm's-length basis.

These regulatory approvals preserve existing commercial arrangements between IHS and all telecom operators, ensuring competitors maintain access to critical tower infrastructure. MTN expects to close the acquisition in H2 2026 pending final NCC confirmation of condition compliance and remaining African market reviews.

With IHS towers used by multiple operators including MTN's rivals, will these conditions effectively safeguard fair competition as MTN gains control over infrastructure supporting both its own network and rival services?

SOURCE: https://techcabal.com/2026/08/26/nigerias-ncc-grants-mtn-conditional-approval-for-ihs-deal/