The telecommunications group announced that IHS shareholders voted in favour of the transaction by the required two-thirds majority at the EGM held on 4 August, satisfying one of the key conditions precedent to the deal. “The approval by IHS shareholders is an important step toward completion of the transaction,” says Ralph Mupita, MTN Group president and CEO. IHS is one of the world’s largest tower companies, with nearly 29 000 towers in Africa serving various mobile network operators in five key MTN markets. AdvertisementFor IHS shareholders, MTN notes, it provides an attractive opportunity to crystalise value. The transaction remains subject to the receipt of the necessary regulatory approvals, which MTN says are still in progress.