MTN Group is preparing to sell a 30% stake in its Nigerian IHS business to local investors, a move expected to raise between $900 million and $1.1 billion. This divestment is a condition set by the Federal Competition and Consumer Protection Commission for the approval of MTN’s $6.2 billion acquisition of IHS Holding Limited. MTN Group CEO Ralph Mupita confirmed that the proceeds from this market-valued stake sale will be used to pay down debt incurred from the broader IHS transaction.