CORPORATE PULSE
TIISETSO MOTSOENENG: MTN needs to untangle its tower mess in Nigeria
The SA firm’s rights may be curbed as IHS Towers has struck a deal with shareholder Wendel Group
23 January 2024 - 05:00
MTN is stuck in a messy situation with its investment in IHS Towers, a Nigerian cellphone tower company. IHS, which listed on the New York Stock Exchange in 2021, has been plagued by governance issues and shareholder disputes.
MTN, which owns 26% of IHS, wants to have greater sway in the company’s affairs. But IHS has rebuffed MTN’s demands and recently struck a deal with another key shareholder (https://www.businesslive.co.za/bd/companies/telecoms-and-technology/2024-01-17-ihs-settlement-with-wendel-could-put-more-limits-on-mtn/), Wendel Group, that may curb MTN’s rights...
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