MTNto acquire IHS Towers' remaining shares
MTN Group formally proposes acquiring IHS Towers' remaining shares at $8.5 per share, following its 24.7% stake. The $6.2 billion deal (enterprise value) would delist IHS from NYSE, giving MTN control of 29,000 African towers. Funding includes $1.1 billion from IHS's balance sheet plus MTN's liquidity and debt. MTN expects cost savings and revenue growth by managing its own infrastructure, with CEO Ralph Mupita calling it pivotal for Africa's digital future.