MTN’s IHS deal approved with Nigerian stake sell-down

Key facts

MTN has received Nigerian approval for its IHS deal, according to TechCabal.

The approval includes a condition requiring MTN to reduce its stake in the Nigerian component of IHS.

The required sell-down is set at up to 30% of MTN’s holding.

Any disposal under the condition must take place at market prices.

The stake reduction is to be completed over time, although no timetable was disclosed.

Why it matters

The condition means the approval does not allow MTN to proceed without a change to its ownership position in the Nigerian component of IHS. The practical effect will depend on how much of the permitted 30% is ultimately sold, the market prices achieved and the period allowed for the disposals. Those details are not yet available in the supplied evidence.

MTN has secured Nigerian approval for its IHS deal, with the clearance tied to a reduction in the telecommunications group’s holding in the Nigerian component of IHS, TechCabal reported on 24 August 2026.

Under the condition attached to the approval, MTN must sell down up to 30% of that stake. The disposals are expected to occur at market prices rather than at a price specified as part of the approval. The sell-down may also take place over time instead of through a single transaction.

The available information does not identify the approving authority or provide further details about the structure and value of the wider IHS deal. It also does not state MTN’s current percentage holding in the Nigerian component, making it unclear what ownership position the company could retain after meeting the condition.

No firm deadline, sequence of sales or prospective buyers has been disclosed in the supplied evidence. It is therefore not yet known when the sell-down will begin, whether MTN will dispose of the full 30%, or how the market-price requirement will be applied to individual sales.

For MTN, the approval removes one stated hurdle for the IHS transaction while creating an obligation to adjust its Nigerian stake. The financial outcome cannot yet be determined because both the volume sold and the prices realised remain unspecified.