IHS weighs $685 million Latam tower sale after $6.2 billion bid from MTN Group

The timing of IHS Holding’s latest move speaks to a company reshaping itself in real time. Days after agreeing to a $6.2 billion takeover by MTN Group, the tower operator is pushing ahead with a plan to sell its South American business for an enterprise value of $685 million, narrowing its focus as ownership shifts. 

IHS exits Latam, sells 8,770 towers

The proposed transaction will see Macquarie Asset Management acquire more than 8,500 tower sites in Brazil and 270 in Colombia, all currently held under IHS Mauritius BR, a unit of IHS Holding. For IHS, the deal marks a full exit from the Latin American market, a region it entered as part of a broader expansion beyond Africa but is now stepping away from as priorities change.

Chairman and CEO Sam Darwish framed the move as a clear line in the sand, signaling the end of the company’s Latam presence. On the other side of the transaction, Macquarie Asset Management said the acquisition strengthens its existing footprint across Brazil and Colombia, where it already holds investments spanning digital infrastructure, transportation, waste management and green energy. The firm expects to channel additional capital into wireless and digital networks, positioning the assets to support the rollout of 5G services in the coming years.

MTN deepens control with $6.2 billion deal

The deal, expected to close later in 2026 subject to conditions, lands at a moment of significant transition for IHS. The company operates more than 39,000 telecom towers across Africa and Latin America, with its deepest roots in Nigeria and South Africa. Its infrastructure underpins mobile connectivity for millions, with MTN standing as its largest customer, relying on the towers to deliver voice and data services across multiple markets.

That long-standing commercial relationship is now evolving into full ownership. Under the $6.2 billion agreement reached earlier this week, MTN—led by Chief Executive Officer Ralph Mupita—will acquire IHS Towers in an all-cash transaction that ranks among the largest telecom deals on the continent. The offer gives IHS shareholders $8.50 per share, representing a 239 percent premium, and reflects MTN’s intent to tighten its grip on the infrastructure that supports its network operations. The acquisition is structured to cover only IHS’ African operations, with MTN moving to buy the remaining 75.3 percent stake it does not already own.

IHS $452.6 million fiber sale, MTN expansion

The Latam divestment also follows closely on another step back from Brazil. Earlier this month, IHS agreed to sell its 51 percent stake in I-Systems Soluções de Infraestrutura S.A. to TIM S.A. in a deal valued at $452.6 million. The deal hands TIM full control of a shared fiber network that stretches 22,250 route kilometers and reaches more than 6.4 million fiber-to-the-home households. Like the tower sale, it is expected to receive regulatory approval in 2026.

Taken together, the moves reflect a broader shift across the telecom sector. Infrastructure companies are trimming assets that require heavy capital spending, while operators are bringing critical networks closer to home to improve efficiency and returns. For IHS, the numbers tell a clear story: a $685 million exit from Latin America, a $452.6 million fiber divestment, and a $6.2 billion deal that will fold its core African business into MTN’s expanding footprint.