A day after Nigeria’s IHS Towers announced a settlement with Wendel Group regarding governance issues at the cellphone tower company, a step meant to improve relations with one of its biggest shareholders, MTN says its concerns about how the company is run remain unresolved. 

IHS, in which MTN is the largest shareholder with a 26% stake, has had an acrimonious relationship with investors over the last year due to governance issues. The company was cofounded in 2001 by current CEO Sam Darwish...

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