Africa's largest mobile operator, MTN, has called for an extraordinary shareholders' meeting of New York-listed IHS Towers as it battles the group's board over voting rights.
According to Bloomberg, MTN, along with French investment company Wendel – which owns 19% – demands that those holding 10% or more of IHS get to nominate board members, but this had been dismissed by IHS. MTN said on Tuesday it"strongly believes that IHS has wilfully breached" its shareholder agreement by failing to place the proposal on the agenda, notify all other shareholders, and allow them to vote on it.
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