Blue Label Telecoms is considering offers for potential new investment in Cell C after posting a first-half loss partly caused by its interest in South Africa’s third-largest mobile phone company.
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The Johannesburg-based telecommunications provider said headline earnings per share are expected to rise by between 80% and 90%.
In a last-minute decision, communications regulator Icasa has given telecommunications operators more time to implement its new consumer protection rules related to data services.
The annual technology convention saw smartphones of different shapes and sizes among its most notable announcements.
Cell C spent R523.9-million acquiring programming and movie rights for its Black video-streaming platform in the 2018 financial year, the mobile operator has revealed.
Cell C reported a total comprehensive loss for the 2018 financial year of R1.3-billion, a filing on shareholder Blue Label Telecoms’ website on Thursday shows. The results are preliminary and unaudited.
Cell C has appointed its chief operating officer, Douglas Craigie Stevenson, as interim CEO following the departure of Jose Dos Santos.
Trading as a newly listed entity on the JSE for barely six hours on Wednesday, MultiChoice had already angered communications regulator Icasa.
Vodacom has backed down over plans to charge customers for data rollover after a public outcry. In a statement on Wednesday, the operator said it will no longer charge for data rollover.
The communications regulator has expressed “concern” that the listing of MultiChoice Group went ahead on Wednesday “even though there is a complaint before its complaints and compliance committee”.