MTN nears IHS Towers takeover after shareholder approval – Technology Times

South Africa’s MTN Group has moved a significant step closer to acquiring IHS Holding Limited after shareholders of the tower infrastructure company approved the proposed takeover, advancing one of the largest digital infrastructure transactions in Africa’s telecommunications industry.

The approval, secured during an Extraordinary General Meeting (EGM) of IHS shareholders on Tuesday, marks a major milestone in MTN’s ambition to integrate one of Africa’s largest independent telecoms tower companies into its operations. The transaction remains subject to regulatory approvals across relevant jurisdictions before it can be completed.

According to regulatory filings seen by Technology Times, the shareholder vote follows the agreement announced in February this year under which MTN proposed acquiring the outstanding shares of IHS Towers that it does not already own, bringing the tower company fully into the MTN Group.

MTN Group reckons that taking ownership of such vital telecoms infrastructure advances its future competitiveness across the continent of Africa where the group serves voice, data, fintech, digital, enterprise, wholesale and API offerings to over 312.7 million customers in 19 markets. 

IHS Towers takeover extends beyond expansion

For MTN Group, which owns MTN Nigeria, the nation’s largest mobile network operator, the deal extends beyond corporate expansion. It reflects the South African mobile operator’s long-term strategy to strengthen ownership of digital infrastructure that underpins mobile connectivity, cloud services, artificial intelligence (AI) applications and future digital economies across Africa.

Announcing the latest development, the South African telecoms giant described the…