The electronic configuration of Mn+2 is Mn+2 = [Ar] 3d5; Mn+3 is 3d4 and that of Fe+2 = [Ar] 3d6; Fe+3 is [Ar] 3d5.
Thus Mn+2 has a more stable configuration than Mn+3 while Fe+3 has a more stable configuration than Fe+2. Consequently, large third ionisation enthalpy is required to change Mn+2 to Mn+3. As E° values is the sum of the enthalpy of atomisation, ionisation enthalpy and hydration enthalpy, therefore E° for Mn+3/ Mn+2 couple is more positive than Fe+3/Fe+2.
Note: The large positive E° for Mn+3/ Mn+2 means that Mn+3 can be easily reduced to Mn+2 (Mn+3 + e → Mn+2) i.e., Mn+3 is less stable, i.e., Fe+3 can be reduced to Fe+2 (Fe+3 + e → Fe+2 but ion easily. Thus, Fe+3 is more stable than Mn+3.