10 February 2017
South Africa-based MTN Group will exchange its 51% interest in Nigeria Tower InterCo, the parent company of Nigerian tower operator INT Towers, for an additional shareholding in IHS Group, the last-named company has announced. As a result of the transaction, MTN’s economic interest in IHS will increase from approximately 15% to approximately 29%. There are no conditions precedent to the transaction and it is expected to close once the new shares in IHS Group have been issued during Q1 2017. The transaction will enable MTN to simplify its tower ownership structure as well as diversify its tower infrastructure exposure across the IHS Group, which operates in five countries across Africa.