MTN Nigeria (MTNN) shares surged to a historic high of N780 per share on Thursday, as investors reacted with overwhelming optimism to the group’s landmark $6.2 billion acquisition of IHS Towers.
The deal, which sees MTN reclaim full control of the 29,000 tower assets across Africa, marks a definitive end to the “asset-light” outsourcing era.
By shifting from a tenant to a landlord, MTN is expected to internalise significant margins, eliminate dollar-linked lease volatility, and gain direct sovereignty over the infrastructure critical for its 5G rollout.
