Shareholders of IHS Holding Limited have approved the proposed merger with a subsidiary of MTN Group, clearing a key hurdle in the telecommunications infrastructure company’s planned acquisition.
The approval was granted at an Extraordinary General Meeting (EGM) held on August 4, 2026, where shareholders endorsed the merger agreement and related resolutions required to complete the transaction.
According to a filing with the United States Securities and Exchange Commission (SEC), holders of 264.07 million ordinary shares, based on the July 9, 2026 record date, were represented in person or by proxy at the meeting, constituting a quorum.
The transaction, first announced in February, will see Sub-Merger Co, a wholly owned subsidiary of Mobile Telephone Networks (Netherlands) B.V., merge with and into IHS Holding, with IHS continuing as the surviving entity. Mobile Telephone Networks (Netherlands) B.V. is a subsidiary of MTN Group Limited.
As part of the resolutions passed at the meeting, shareholders approved the merger agreement, the plan of merger to be registered in the Cayman Islands, and authorised the company’s directors and officers to take all necessary steps to complete the transaction.
A separate proposal to adjourn the meeting in the event of insufficient shareholder support was not put to a vote because the merger resolution received the required approval.
Commenting on the development, Raph Mupita, MTN Group president and chief executive officer, described the shareholder approval as an important milestone towards completing the acquisition.
According to him, tower infrastructure is a key pillar of the group’s Ambition 2030 strategy and will strengthen MTN’s long-term strategic and financial position.
“The approval by IHS shareholders is an important step toward completion of the transaction. Within our Ambition 2030, the three-platform strategy, towers are a critical value creation driver that will strengthen MTN’s strategic and financial position for the future, in a world where digital infrastructure and AI are becoming increasingly essential to Africa’s growth and development,” Mupita said.
