In a dramatic business twist, MTN has regained its old telecoms towers it initially sold to IHS Towers, as MTN Group, yesterday, reached an agreement to acquire IHS Towers, the largest independent towers, operators, and developers of shared communication infrastructure globally, at an enterprise value of approximately $6.2 billion.
The deal followed weeks of negotiation between both parties, which was eventually concluded yesterday.
IHS Towers’ Board of Directors unanimously approved the transaction and recommended it to shareholders.