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Activist Investor Blackwells Joins Calls for Reform of IHS Board
June 28, 2023 · By Blackwells Capital
Activist investor Blackwells Capital LLC joined IHS Holding Ltd.’s two biggest shareholders to demand the African tower operator reforms its board, in the latest escalation of a standoff over how the company is run.
“Genuinely independent directors” are needed to improve IHS’s performance after it lost 60% of its value since going public in 2021, Blackwells Chief Investment Officer Jason Aintabi wrote in a letter sent on Wednesday to IHS board members.
A spokesperson for IHS declined to comment. The Wall Street Journal previously reported the letter.