The Competition Commission has recommended that the Competition Tribunal approve MTN’s proposed acquisition of IHS Holding, subject to conditions aimed at addressing competition and public interest concerns.
Competition Commission spokesperson Siyabulela Makunga said the commission reached the decision during its ordinary meetings on 22 and 28 September 2026.
The proposed transaction would see MTN, through its wholly owned subsidiary Sub-Merger Co, acquire IHS, a global tower operator that provides shared communications infrastructure to mobile network operators and other licensed operators.
Makunga said the transaction raises competition and public interest concerns.
The recommended conditions are aimed at protecting jobs and historically disadvantaged persons (HDPs), preserving existing customer rights and ensuring fair negotiations when existing lease agreements are renewed.
They also seek to ensure fair, equitable and non-discriminatory access to IHS infrastructure for mobile network operators and non-MNO customers, while preventing preferential treatment of MTN South Africa.
The conditions further seek to protect competitively sensitive customer information, support small, medium and micro enterprises (SMMEs) and HDP participation in new tower sites, and maintain IHS as an operationally independent entity.
Makunga said the commission had also recommended that the Tribunal approve Thunderstruck Holdings’ proposed acquisition of Augusta Steel, subject to conditions.
The commission found that the transaction was unlikely to substantially lessen or prevent competition in any market but said conditions had been agreed to address potential foreclosure concerns raised by third parties.
Under the agreement, the acquiring group will supply hot-rolled coil products to independent downstream manufacturers on fair, reasonable and non-discriminatory terms for a specified period.
The parties also agreed to conditions relating to employment, skills development and procurement from HDP-owned businesses.
The conditions include a moratorium on merger-related retrenchments, a skills development structure for HDPs, spending on goods and services from HDPs, and expanded access to training and learnership programmes for Augusta employees and their immediate family members.
The commission also approved Vandapro Proprietary Limited’s acquisition of Lionels Vet Holdings, subject to conditions.
The merged entity will be required to implement an HDP transaction within a specified period following implementation of the deal.
Makunga said the commission also approved Sasfin Capital’s proposed acquisition of Capitec Rental Finance, subject to a condition imposing a moratorium on merger-related retrenchments for a specified period.
The commission approved Isotope Bidco Limited’s proposed acquisition of Intertek Group plc without conditions.
Makunga said the commission found that the Intertek transaction was unlikely to substantially lessen or prevent competition and did not raise significant public interest concerns.
