In a statement on Thursday, the MTN Group said no final agreement has been reached and there is no certainty that the deal will go ahead.
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MTN has responded to recent speculation about its stake in IHS Holdings Limited, confirming that it is in advanced talks to buy the remaining 75% of shares in the company that it does not already own.
The potential offer price is close to IHS’s most recent trading price on the New York Stock Exchange as of February 4, 2025, following a strong rise in the share price in recent weeks.
In a statement on Thursday, the MTN Group said no final agreement has been reached and there is no certainty that the deal will go ahead.
"The Transaction, if concluded, may have a material effect on the price of the Company’s securities. Accordingly, shareholders are advised to exercise caution when dealing in the Company’s securities until a further announcement is made," the Group added.
If the deal does not proceed, MTN said it will continue exploring other ways to unlock value from its investment in IHS, in line with its capital allocation strategy.
The company said it will not comment further at this stage.