IHS Towers settle litigation with shareholders Wendel Group
IHS Towers has been working with its shareholders to resolve concerns about financial performance
Following months of wrangling with its shareholders, IHS Towers is a step closer to resolving its corporate woes. Wendel has been a significant shareholder in IHS Towers since 2013, and has signed up to changes to corporate governance at the company.
With its share price down 75% since IPO, IHS Towers' leadership has been under pressure from shareholders to take action to recover its IPO highs, or at least close the valuation gap with other large publicly traded towercos.
IHS Towers' leadership has resisted calls to give more control to major shareholder MTN over fears that greater mobile operator control would further destroy value by eroding the independent management necessary for a towerco to function.