MTN Group Ltd., the largest mobile telecommunications operator in Africa, has confirmed its agreement to acquire IHS Holding Ltd. for $6.2 billion in an all-cash deal. This acquisition was announced through an official statement by IHS, which stated that shareholders will receive $8.50 per share. This price reflects a remarkable 239 percent premium compared to IHS's share price when the company's strategic review began in March 2024. The deal comes amid ongoing geopolitical uncertainties and economic volatility in many of the markets where IHS operates.

The IHS Towers Board of Directors has unanimously backed this acquisition and has also advised shareholders to approve the transaction. The board's strong support indicates confidence in the deal, especially considering the recent strategic review initiated by IHS in early 2024. The agreement positions MTN to strengthen its presence and operational capabilities in the telecommunications infrastructure space across Africa, amidst an evolving digital landscape that has seen rising demand for mobile connectivity.

This acquisition not only underscores MTN's commitment to expanding its footprint in the African telecom market but also responds to the broader context of increasing investment in telecommunications infrastructure due to the rising need for reliable network services. With IHS being a key player in this sector, the deal is expected to catalyze significant growth for MTN while enhancing shareholder value, especially in light of the significant premium offered in the acquisition agreement.