There are strong indications that MTN Group has secured a conditional approval from Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) for its proposed $6.2 billion acquisition of IHS Holding Limited.
This marks a significant step toward completing one of Africa’s largest telecommunications infrastructure transactions.
According to reports, the development is contained in MTN Group’s half-year 2026 financial results released recently, even as the transaction continues to progress through the required regulatory approval processes, with several key clearances already obtained across relevant jurisdictions.
Recall, MTN has emphasized that the proposed acquisition remains a top strategic priority for the second half of 2026 (H2 2026) and is expected to significantly strengthen the Group’s long-term earnings profile, revenue growth, and free cash flow generation.
Detailing the regulatory status of the deal, the company disclosed that the FCCPC has granted conditional approval for the Nigerian component of the transaction, with the approval subject to MTN gradually reducing its ownership stake in part of the acquired business over time.
“The remaining conditions are principally regulatory, with approvals received from the Nigerian Federal Competition and Consumer Protection Commission (FCCPC) and several others, with other approvals underway or imminent,” MTN stated in its financial report.
“With regards to the FCCPC in Nigeria, conditional approval of the transaction has been received. This is conditional on MTN Group selling down up to 30% of the Nigerian component of the IHS business at market prices over time. MTN is comfortable with the conditions as set out,” the company added.
The acquisition of IHS Holding Limited, one of the largest independent owners, operators, and developers of shared communications infrastructure in the world is positioned to consolidate MTN’s control over its network infrastructure footprint across key African markets.
By agreeing to the FCCPC’s condition to sell down up to 30% of the Nigerian operations to third parties or local investors at market prices over time, MTN satisfies regulatory requirements aimed at preventing market monopoly while securing operational control of critical tower assets.
The transaction is expected to finalize once the remaining regulatory approvals from other operational markets are fully secured.