South Africa's Competition Commission approves MTN's IHS takeover with conditions

South Africa's Competition Commission has recommended the Competition Tribunal approve MTN's acquisition of tower operator IHS, with conditions. MTN already holds 26% (about 85.2 million shares) and will raise its stake to 100%. Conditions protect jobs, customer rights and IHS independence.

• MTN will raise its IHS stake from 26% to 100% via Sub-Merger Co
• Conditions protect jobs and IHS customer rights
• Deal cleared in Nigeria and Zambia, awaits Tribunal ruling
• IHS operates nearly 29,000 towers across Africa