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Beleaguered mobile operator Cell C delivered its latest restructuring proposal to creditors in early October, said two people familiar with the matter. The highly leveraged company fell into default in July last year, after failing to pay interest on various bilateral loans. Under the terms of the proposed transaction, existing airtime lenders will provide about R4.25-billion...

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Mobile operator Cell C has net debt, excluding leases, on its balance sheet (prior to a planned recapitalisation) of almost R10-billion, but it still wants to participate in South Africa’s upcoming spectrum auction. That’s according to CEO Douglas Craigie Stevenson, who said in an interview with TechCentral on Tuesday following the publication of the company’s interim...