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MTN Seeks Investors for IHS Nigeria Stake
26 Aug
Summary
- MTN Group seeks local investors for a 30% stake in IHS Nigeria.
- The deal aims to raise between $900 million and $1.1 billion.
- This move aligns with an agreement with Nigeria's antitrust authorities.
MTN Group Ltd. is reportedly pursuing local investors to acquire a substantial 30% stake in its Nigerian subsidiary, IHS Nigeria Plc. This strategic divestment is being conducted in accordance with an agreement reached with Nigeria's antitrust authorities. The transaction is projected to inject between $900 million and $1.1 billion into the company.
Sources close to the matter indicate that this development is a key part of MTN's ongoing efforts to comply with regulatory frameworks and potentially broaden local participation in its operations within Nigeria. The scale of the potential investment underscores the significant value attributed to IHS Nigeria's infrastructure assets.
