As telcos celebrate the allocation of spectrum at the just-ended auction, Cell C is seeking answers as to how the regulator will parcel out the wholesale open access network (WOAN). Commenting on the just-concluded spectrum allocation process by the Independent Communications Authority of South Africa (ICASA), Cell C says in many respects, the outcome was...
Blue Label Telecoms, the biggest shareholder in Cell C, has signed a non-binding term sheet (umbrella restructure term sheet) with potential funders, taking the recapitalisation of the financially-troubled operator a step closer. The company, which has a 45% stake in Cell C, announced to shareholders today that the deal had been sealed with key stakeholders...
Blue Label Telecoms co-CEO Brett Levy said on Wednesday that the long-awaited recapitalisation of debt-laden mobile operator Cell C will be completed by no later than May this year. The long-running process, which has taken years of intricate negotiation, is nearing its conclusion, with the money now secured and all stakeholders in alignment, Levy said. Cell...
Blue Label Telecoms said on Monday that it is still locked in talks over a planned recapitalisation of debt-laden mobile operator Cell C, in which it holds a 45% stake. The JSE-listed company first announced three months ago that it was in negotiations about the recap with Investec and other lenders. It issued a further cautionary...
Blue Label Telecoms cautioned shareholders on Monday that it remains in talks about a recapitalisation of mobile operator Cell C, in which it holds a 45% stake. The updated cautionary notice by the JSE-listed firm, which is required in terms of the bourse’s listing rules, comes after Blue Label said on 26 August that its wholly...
Mobile operator Cell C says it has implemented safety nets to caution the business from further losses through fraud, after haemorrhaging R130 million in the last eight years. Cell C is currently in court battling with former IT executive Mohamed Ismail Adamjee and others over fraud allegedly perpetrated by the group. Adamjee is alleged to have orchestrated...
Mobile operator Cell C has reported R2.36-billion in profit before tax, a huge turnaround in fortunes from the R10.69-billion loss it reported a year ago. Cell C disclosed the PBT figure to TechCentral on Thursday when its largest shareholder, Blue Label Telecoms, published full-year results for the period ending 31 May 2021. The Cell C PBT...
Mobile operator Cell C is scouting for a new head of its integral wholesale business. The unit is critical to Cell C’s growth strategy as the company seeks to consolidate its gains in the competitive telecoms sector. The new candidate will replace the late Cell C chief executive for wholesale Björn Flormann, who passed on...
Cell C has revealed that it has made significant progress in migrating its customers from its own RAN to the network of roaming partner MTN. As part of the project, Cell C will decommission its physical RAN, including towers, antennae, radio and transmission equipment, while MTN will provide a virtual RAN for Cell C’s clients. The cellco has switched off all network sites...
Cell C is in advanced talks with Rand Merchant Bank and Investec to provide it with about R4-billion rand in fresh capital, according to people familiar with the matter. South Africa’s fourth largest mobile phone provider, partly owned by Johannesburg-listed Blue Label Telecoms, is nearing the end of a recapitalisation plan to pay down debt, said...
