Wendel Sues IHS Over Governance as Shareholder Fight Escalates
- Firm claims IHS is in violation of shareholders agreement
- IHS’s biggest shareholders are seeking governance changes
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IHS Holding Ltd.’s second-largest shareholder sued the African mobile tower operator, escalating a standoff with management over how the firm is run.
Wendel SE, via its subsidiary Oranje-Nassau Développement SCA FIAR, is seeking to force the tower company to hold a vote on several governance proposals after the board didn’t put them forward at its June shareholders meeting, according to a summons from the Grand Court of the Cayman Islands issued on June 30.