Appleby Advises on MTN’s Proposed $6.2 Billion Acquisition of IHS

On 17 February 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’s 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.

Appleby is representing MTN and advising on all Cayman Islands legal aspects of the transaction. The Appleby team is led by corporate Partner Dean Bennett, supported by Counsel Vance Power and other members of Appleby’s specialist public company M&A team.

This deal further highlights Appleby’s strength in complex cross‑border M&A and public company transactions and the market‑leading capabilities of its Band 1‑ranked Corporate team.