IHS Towers has confirmed discussions with MTN Group Restricted over a potential acquisition of the remaining shares MTN doesn’t already personal within the telecom infrastructure firm.
This was revealed in an announcement launched on Thursday, the place the New York Inventory Alternate-listed tower operator stated it had taken observe of MTN’s cautionary announcement issued earlier within the day concerning a possible transaction and confirmed that talks between each events are ongoing.
“IHS Towers confirms that discussions are ongoing with MTN concerning a possible acquisition by MTN of all remaining shares it doesn’t already personal in IHS Towers,” the corporate stated in an announcement on its web site, cautioning buyers to not interpret the replace as an announcement of a accomplished or imminent deal.
Learn additionally: MTN Group in advanced talks to acquire remaining 75% stake in IHS Towers
The corporate, nevertheless, said that the method stays non-binding and that no settlement has been reached, including that there is no such thing as a certainty that the discussions will lead to a transaction, nor readability on the ultimate phrases if any deal is finally concluded.
MTN at present holds a major minority stake in IHS Towers, and a full takeover would symbolize a serious consolidation transfer within the African telecom infrastructure sector.
IHS Towers stated it could present additional updates to the market as required, in step with regulatory obligations.
IHS Towers is likely one of the world’s largest unbiased house owners and operators of shared telecommunications infrastructure, with greater than 37,000 towers throughout seven markets, together with Nigeria, South Africa, Brazil, Cameroon, Colombia, Côte d’Ivoire, and Zambia.
