Cell C has dismissed accusations that the company’s Section 189 process is unprocedural and that it is backtracking on an agreement not to cut staff as inaccurate and misleading. Cell C employees have joined the recent SABC strike in protest of the mobile operators’ retrenchment process. Speaking to the SABC, a Cell C Information Communication...
Huge Group subsidiary Huge Cellular has asked former partner Cell C to give it more time to migrate the remaining 15% of customers it hasn’t yet ported to MTN South Africa’s network. Cell C said it won’t get it. The JSE-listed telecommunications specialist said late on Monday that as of last Friday, it had migrated 85%...
Cell C is in deep financial trouble. It is unable to pay its debt and its total liabilities are three times higher than its total assets. With Cell C’s liabilities and debts exceeding its assets and its inability to meet its debt obligations on time, the company is insolvent. Its financial situation is so dire that the...
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...
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...
Mobile operator Cell C has reported an interim net loss after tax for the six months to June 2020 of R7.6-billion, but said this was mainly the result of once-off costs and adjustments and that normalised earnings actually grew by 64% to R1.8-billion. The net loss after tax figure includes impairments to the value of R5-billion,...
Cell C and Facebook have partnered with the Saldanha Bay Municipality (SBM) in the Western Cape of South Africa to launch express public access hotspots – part of a plan to roll out Wi-Fi hotspots across the country. The move is said to be part of an ongoing initiative by Cell C to deploy free WiFi...
Relations between Cell C and its soon-to-be-former client Huge Group have reached rock bottom, with the former claiming it’s owed R60-million by the latter and the latter saying it’s actually the one that’s owed money “morally”. The two parties have now entered a second phase of arbitration to resolve the acrimonious dispute, with both sides accusing...
Blue Label Telecom has provided an update on Cell C’s turnaround strategy, which revealed that Cell C has lost nearly a third of its subscribers between June 2019 and May 2020. While this big reduction in subscribers may concern some investors, Blue Label Telecom highlighted that it did not have a significant impact on service...
A jobs bloodbath is expected at debt-saddled mobile operator Cell C, after it announced it is closing down 130 stores across the country as financial pressure continues to ravage the company. The telco says it is reviewing its operating model and organisational structure to address inefficiencies. Cell C has since initiated a Section 189 process,...
