MTN South Africa

But regulators are putting guardrails around what the ownership means for its rivals.

The Competition Commission, South Africa's competition regulator, approved a $2.2 billion acquisition on September 30th with conditions requiring IHS infrastructure to remain available to competing operators on fair and non-discriminatory terms, limiting MTN South Africa's ability to benefit from owning infrastructure that rivals also depend on.

The conditions address the deal's central tension.

MTN will own the tower infrastructure while continuing to compete with other mobile operators that use it.

Towers are shared infrastructure, meaning control over them can affect how easily competing networks expand and operate locally.

The commission said the proposed acquisition raises competition and public interest concerns.

Its recommended conditions include Seek to ensure fair access to IHS infrastructure, project existing customers and jobs, and prevent MTN South Africa from receiving preferential treatment.

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