The recapitalisation of Cell C is taking longer than expected, and will now only be concluded “towards the end of August”.
Browsing: Blue Label Telecoms
Lenders to the troubled mobile operator have approved a “compromise offer” that will place the company into a more sustainable debt position.
A critical meeting to decide the future of Cell C was not able to proceed to a vote on a planned recapitalisation this week.
The long-delayed recapitalisation of debt-laden mobile operator Cell C is inching forward, with secured lenders set to vote on a “compromise offer” next month.
Blue Label Telecoms has unveiled long-awaited details of a planned recapitalisation of Cell C – a move aimed at dealing once and for all with the mobile operator’s crippling debt problem.
Blue Label Telecoms’ co-CEOs Mark and Brett Levy have expressed their frustration that investors continue to punish Blue Label for their Cell C deal, despite the solid performance of the group in recent years.
Blue Label Telecoms has said that the long-awaited recapitalisation of debt-laden mobile operator Cell C will be completed by no later than May this year.
Blue Label Telecoms on Wednesday provided more insight into a fraud scheme it uncovered last year that led to the suspension of two senior executives.
New Telkom CEO Serame Taukobong has a challenge on his hands: the mobile growth story that underpinned the business in recent years appears to be ending.
Blue Label Telecoms, the JSE-listed firm that owns 45% of Cell C, is still in talks about recapitalising the debt-laden mobile operator’s balance sheet.