MTN Group, Africa’s largest telecommunication company, is spending $2.2 billion to regain control of nearly $4.8 billion worth of telecom towers across Africa from IHS Holdings. At the same time, it is assuming responsibility for one of the sector’s largest debt burdens. The transaction values the tower operator at roughly $2.9 billion in equity and implies an enterprise valuation of about $6.2 billion, including its Latin American operations. Once ongoing divestments are completed, MTN will retain an African tower portfolio worth approximately $4.8 billion. The deal arrives as IHS faces growing balance-sheet pressure. After years of expansion financed largely with dollar-denominated debt, currency volatility, rising diesel costs, and looming maturities have tightened the company’s finan...