U.S.-Nigerian telecom mogul Sam Darwish, who is the founder of IHS Towers, has seen the value of his stake in the telecom infrastructure company drop to about 86 million after a slide in its shares on the New York Stock Exchange NYSE.
Darwish stake in IHS drops 12 million
The decline marks another setback for Darwish, whose 12.92 million shares equal to a 3.9 percent holding have shed more than 12 million in the past three weeks. The losses wiped out the rebound he briefly enjoyed earlier in the summer, when IHS shares had gained ground.