MTN advanced IHS deal: ZAR 350.7 billion values MTN Group stock

Published on 10/20/2026 at 12:34 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The IHS deal targets 100 percent ownership after conditional approvals. MTN Group stock costs EUR 10.35 on October 20, 2026 against the Xetra close.

Growth and ownership

MTN had advanced its IHS Towers transaction to a September 30, 2026 regulatory recommendation worth USD 2.20 billion.
Service revenue reached ZAR 115.3 billion in the six months ended June 30, 2026.
MTN Group stock traded at EUR 10.35 at 12:29 p.m. CEST at Lang & Schwarz on October 20, 2026.

MTN Group, ZAE000042164, Illustration mit AI erstellt.

MTN Group (ISIN ZAE000042164) had advanced its IHS Towers transaction after a South African regulatory recommendation, while its market value stood at ZAR 350.7 billion on October 20, 2026. The proposed acquisition is valued at USD 2.20 billion, according to BusinessDay on October 5, 2026.

IHS ownership moves closer

MTN agreed on February 17, 2026, to acquire the 75.3 percent of IHS Towers it did not already own. IHS shareholders approved the transaction on August 4, 2026, and South Africa's Competition Commission recommended approval with conditions on September 30, 2026, according to TechInfoAfrica and BusinessDay.

The conditions require fair and nondiscriminatory access to IHS infrastructure for rival operators. They also cover customer lease renewals, competitively sensitive information and the operational independence of IHS.

What supports the valuation?

MTN's latest reported figures provide the operating backdrop. The company's investor materials show service revenue of ZAR 115.3 billion for the six months ended June 30, 2026, alongside 317.7 million subscribers across 19 markets. The same source identifies the interim reporting period and the group's geographic reach through MTN Group.

The IHS purchase would add infrastructure assets to a telecom group whose service revenue grew in the first half of 2026. The transaction therefore links MTN's network expansion with a separate tower platform, while the regulatory conditions keep access and integration central to the investment case.

Three milestones shape the deal

On February 17, 2026, MTN agreed to buy the remaining IHS stake for USD 2.20 billion. On August 4, 2026, IHS shareholders approved the transaction. On September 30, 2026, South Africa's Competition Commission recommended conditional approval. The sequence leaves further regulatory work before completion.

Stock price and investor context

On the Johannesburg Stock Exchange, MTN was last at ZAR 191.33 on October 20, 2026 at 12:17 p.m. SAST. The euro quotation places the German investor perspective at EUR 10.35, while the IHS deal supplies the main corporate catalyst.

MTN Group stock was trading at EUR 10.35 at Lang & Schwarz on October 20, 2026 at 12:29 p.m. CEST. The further course of trading is shown by the continuously updated real-time quote of MTN Group stock.