MTN Nigeria has secured Approval-in-Principle from the Nigerian Communications Commission for its proposed acquisition involving IHS Towers’ Nigerian business or assets, according to a report by BusinessDay Nigeria.
The decision represents preliminary rather than final regulatory clearance. BusinessDay reported that completion remains dependent on conditions, although the supplied evidence does not specify what those requirements are or which party must satisfy them.
Important commercial details also remain unclear. The available report does not state the value of the proposed transaction, its precise scope, how it would be financed or when the companies expect the process to be completed.
The Approval-in-Principle allows the proposal to advance, but it should not be treated as confirmation that the acquisition has closed. Final regulatory clearance remains outstanding until the relevant conditions are met.
No separate statement from the NCC, MTN Nigeria or IHS Towers was included in the supplied evidence. It is therefore not yet known when a final decision may be issued or whether the regulator could require changes to the proposed arrangement.