MTN’s IHS takeover deal gets CompCom approval

The Competition Commission (CompCom) has advised the Competition Tribunal to approve MTN's acquisition of tower operator IHS, with specified conditions. The deal, managed through wholly-owned Sub-Merger Co, would see MTN increase its stake in IHS to 100%. Presently, MTN owns approximately 85.2 million (26%) of IHS shares. CompCom identified competition and public interest concerns related to the proposed transaction, recommending conditions to safeguard jobs and historically-disadvantaged persons (HDPs), preserve customer rights, negotiate lease agreements fairly, and ensure no customer is put at a disadvantage.

The conditions also aim to prevent MTN SA from receiving preferential treatment and ensure equitable infrastructure access by mobile network operators (MNOs) and non-MNO customers of IHS. MTN and IHS expressed satisfaction with the Commission's decision to refer the case to the Competition Tribunal, considering the transaction beneficial for the entire industry.

The acquisition aligns with MTN's Ambition 2030 strategy, seeking to enhance digital infrastructure capabilities and broaden revenue sources. IHS is Africa's largest independent tower company, operating nearly 29,000 towers across various markets.