MTN Group has moved a step closer to completing its acquisition of IHS Holding Limited after shareholders of the telecommunications infrastructure company approved the proposed transaction at an Extraordinary General Meeting held on August 4, 2026.

The special resolution secured the required two-thirds majority, satisfying one of the key conditions needed for the deal to proceed. The acquisition, first announced by MTN in February 2026, now awaits the remaining regulatory approvals before it can be finalized.

As part of the transaction, MTN created a temporary entity known as Sub-Merger Co, which will merge into IHS and subsequently cease to exist. IHS Holding Limited will remain the surviving legal entity and become a wholly owned subsidiary of MTN. Once the transaction is completed, the company will also be delisted from the New York Stock Exchange, ending its status as a publicly traded business. Despite the ownership change, IHS will retain its existing legal registration, contracts, licenses, and permits unless MTN decides to implement future restructuring or rebranding.

Commenting on the development, MTN Group President and Chief Executive Officer Ralph Muita described the shareholder approval as a significant milestone toward completing the transaction. He noted that telecommunications tower infrastructure remains a core pillar of the company's Ambition 2030 strategy and said full ownership of IHS will strengthen MTN's strategic and financial position as demand for digital infrastructure, cloud services, and artificial intelligence continues to accelerate across Africa.

The acquisition is also expected to reinforce MTN's presence in the telecommunications tower infrastructure sector while advancing the group's broader three-platform strategy, which focuses on expanding digital infrastructure and long-term connectivity across its markets.

Although shareholders have approved the merger, the transaction is not yet complete. MTN said regulatory review processes are still ongoing and must be concluded before the acquisition can be finalized. Shareholder approval also rendered a proposed contingency resolution—which would have allowed the meeting to be adjourned if sufficient votes were not secured—unnecessary, as the required support for the merger was achieved during the meeting.