MTN terminates tower deal with IHS in Nigeria

MTN Group said American Tower Corporation will take over its Nigerian tower operations from IHS Holding from 2025.

The company said it was proactively renegotiating its tower contracts in Nigeria as the lease of approximately 2 500 of its network sites in its largest market, for which IHS had provided services, will expire in 2024 and 2025.

Last year, MTN completed a sale-and-leaseback deal with IHS to take over more than 5 700 of its tower sites in South Africa. Since then, the relationship between the two companies has soured and MTN is currently in a shareholder dispute with the tower firm, in which it holds 26%, over governance issues.

American Tower previously bought MTN’s stake in its tower operations in Uganda and Ghana.  — (c) 2023 Bloomberg LP

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