MTN Seeks 30% Investment from Nigerian Investors to Acquire $1.1bn IHS Stake

MTN Group is seeking Nigerian investors to acquire up to a 30 per cent stake in IHS Nigeria to conclude the acquisition of IHS Holding Limited, valued between $900 million and $1.1 billion. Bloomberg reported that the proposed sale could generate between $900 million and $1.1 billion for MTN. This follows conditional approval from the Federal Competition and Consumer Protection Commission (FCCPC) for the acquisition, which requires selling down up to 30 per cent of the Nigerian component to local investors.

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