MTN’s Proposed $6.2 Billion Acquisition of IHS
February 17, 2026
On February 17, 2026, MTN Group Limited (“MTN”), Africa’s largest mobile network operator, announced that it has entered into an agreement with IHS Holding Limited (“IHS”), one of the largest independent owners, operators and developers of shared communications infrastructure in the world, to acquire the remaining shares of IHS not already owned by MTN in an all‑cash transaction at an offer price of $8.50 per IHS share, which implies an enterprise value of $6.2 billion. The structure of the transaction is intended such that, upon completion of IHS’ announced disposals of its Latin American businesses, MTN will acquire 100% of IHS’ African tower portfolio. Following the completion of the transaction, IHS will be de‑listed from the New York Stock Exchange. Cravath is representing MTN in connection with the transaction.
The Cravath team is led by partner Richard Hall and includes associates Brianna Pang Sawhney, William Edin, Aggrey Odera and Francesca Sebastiani on M&A matters; partner Philip J. Boeckman and associates Marianne Madden and Jacob C. Travers on financing matters; partner Eric W. Hilfers and associate H. Bianca Hsing on executive compensation and benefits matters; partner Arvind Ravichandran and associate Frederick Schemel on tax matters; partner Sasha Rosenthal‑Larrea, of counsel Carys J. Webb and associate Pierre Schlaefli on intellectual property matters; partner Margaret T. Segall on antitrust matters; partner Matthew Morreale on environmental matters; and of counsels Joyce Law and Brian M. Budnick on real estate matters. Jackson M. Patton and Randy Pongtiku also worked on M&A matters.
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