MTN offers IHS Tower employees 12 months’ salary, other benefits in merger deal

MTN Group has offered IHS Tower employees a 12-month salary guarantee, effective from when the merger takes effect. This is contained in a merger agreement both companies filed with the U.S. Securities and Exchange Commission, dated February 18, 2026. 

The latest development also forms part of the ongoing agreement between the MTN Group and IHS Tower for the prospective $6.2 billion deal expected to be completed by the end of 2026.

According to Section 6.7 of the filing titled “Employment and Company Benefits,” MTN offered a one-year salary and bonus protection for IHS Tower employees. They will also enjoy other compensation and benefits signed under an agreement with their former Boss. 

“For the period commencing at the Effective Time and ending on the first (1 st) anniversary of the date on which the Effective Time occurs, Parent will, or will cause the Surviving Company to, provide each Company Employee with a base salary or hourly wage rate and short-term cash incentive compensation opportunities (which includes, for the avoidance of doubt, annual bonus entitlements,” part of the deal reads. 

MTN also noted that IHS Tower employees will receive other compensation and benefits that are substantially similar to what they had before. This includes things like equity or long-term incentives, pension and retirement benefits, deferred compensation, severance arrangements, perks and general benefits.

However, the telecom company noted that there’ll be no job guarantee after the expiration of the one-year period. It added that nothing under the agreement stops the company from firing employees at any time.

In addition, MTN Group mentioned that it can change benefit plans and has full control over employment and future benefits. This means that the operator can change, amend, or cancel them after closing, though subject to earlier 1-year protections. 

The development comes amid ongoing plans for IHS Tower’s $6.2 billion acquisition by MTN Group. The tower infrastructure company, in a disclosure on Tuesday, noted that its Board of Directors has “unanimously” approved the agreement and the transaction, and has recommended the same move to its stakeholders.

Also Read: MTN, IHS Towers strike $6.2 billion merger deal.

MTN-IHS merger: FG’s scrutiny still on course

Following the agreement between both parties, the federal government of Nigeria said it will assess the proposed acquisition of IHS Towers by MTN Group over its future impact on the Nigerian telecoms industry. 

‘Bosun Tijani

The Minister of Communications, Innovation, and Digital Economy, Dr Bosun Tijani, explained that the review is necessary to ascertain its impact on the long-term sustainability, investor confidence, and performance of the sector. He added that the move forms part of efforts to stabilise and strengthen the telecoms sector as a critical pillar of Nigeria’s digital economy.

While the telecoms industry stands as a pillar of national security, economic growth, innovation and financial services, the federal government wants to ensure that the MTN-IHS Tower merger does not jeopardise the sector’s resurgence and profitability scales. 

Aside from the FG, experts have raised concerns over the monopoly of MTN controlling tower infrastructure that serves other major network providers such as Airtel and T2mobile. There were also major concerns about how MTN’s control of a major tower company could create pricing or access barriers for rivals. 

According to the disclosure made by IHS Tower, the transaction is expected to close before the end of 2026, subject to shareholder and regulatory approvals.

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