Following the announcement by IHS that it has reached an agreement with Wendel, one of its key shareholders, news from South Africa suggest that MTN is not satisfied. IHS has been in an embattled position with two of its largest shareholders – MTN and Wendel for about a year now and has been keen to resolve all issues. MTN is the largest shareholder with 26% and the South Africa telecoms giant seeks a seat on the board of the Nigerian company and one of the world’s largest telecoms infrastructure companies. After the agreement with Wendel, MTN says its concerns remain, according to BusinessDay South Africa. Recently, MTN signed an agreement with American Towers to manage 2500 towers despite improved terms by IHS, but MTN says the process was already concluded. Essentially, MTN is doing business with IHS competitor despite being the largest shareholder of IHS.