IHS Holding (IHS) said Thursday it is in talks with MTN Group about a possible purchase of all remaining shares that MTN does not already own.

The proposal is not legally binding and has not been accepted, and there is no guarantee that a deal will be reached or what the final terms would be, it added.

IHS provided the update after a notice issued by MTN concerning a potential stock buyout, the company said.

Shares of the company were down about 3.8% in recent trading.

Price: 7.91, Change: -0.33, Percent Change: -4.00