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MTN Group, Africa’s largest telecom company, has cleared a major hurdle in its $2.2 billion takeover of IHS Towers in Nigeria. But regulators have ensured the telecom giant doesn’t get the whole tower cake.
What happened? Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC), the competition watchdog, has given MTN conditional approval to acquire the remaining stake in IHS, with one important catch: MTN must sell up to 30% of its stake in IHS Nigeria to local investors at market prices over time.
Originally published by TechCabal.