Cell C is technically insolvent and is heading for bankruptcy unless a deal is struck to recapitalise the company. Cell C’s latest financial results show the company’s total liabilities of R21.4 billion far exceed its total assets of R8.2 billion. The company, therefore, has negative net equity of over R13 billion. The operator’s dismal financial...
Cell C’s migration of its contract and broadband customers to Vodacom’s network is taking longer than anticipated and has not been completed by February as planned. This is feedback from the mobile operator which was answering questions from MyBroadband about the migration. Cell C is in the process of shutting down its radio access network...
Troubled South African operator Cell C will split off some of its assets as part of an attempt to restructure its debt.
The planned recapitalisation of Cell C, believed to involve the Buffet Consortium and other investors, has been finalised, though details are only expected to be made public next month, TechCentral has learnt.
Telkom SA SOC Ltd. has offered to buy Cell C Pty Ltd. and merge South Africa’s two smallest mobile network operators in an effort to better compete against larger rivals, according to sources close to the matter. The bid reportedly includes a strategy to pay off Cell C’s debt and renegotiate contracts with its suppliers....
Cell C on Thursday announced an R8-billion net loss for the 12-month period to 31 May 2019, much of this sea of red ink made up of impairments. Despite this, management has talked up the company’s performance for the three months to end-August and said it’s on track to implement a complex turnaround plan, with a...
