IHS to Acquire Helios Towers

Africa’s largest tower company IHS, has agreed to buy its Nigerian rival, Helios Towers for an undisclosed sum.

According to the Mobile Telecom Infrastructure’s Chief Executive Officer, Mr Issam Darwis, the company will acquire 1,211 towers spread across 34 of Nigeria’s 36 states.

“IHS will acquire the full control of the entire issued share capital of Helios Towers, its underlying business as well as market independent infrastructure sharing services to mobile network operators and internet service providers in Nigeria,”

IHS already has about 23,000 towers across Ivory Coast, Cameroon, Zambia and Rwanda, but its biggest market remains Nigeria with about 15,000 towers spread across the country.

The deal is expected to be reached in the second quarter of 2016.