Browsing: Blue Label Telecoms
Cell C’s largest shareholder, JSE-listed Blue Label Telecoms, has moved to reassure nervous investors about the mobile operator’s prospects.
S&P Global Ratings has downgraded Cell C’s debt rating further after the troubled mobile operator amended a private “airtime facility” agreement that the agency described as being “tantamount to a selective default”.
Telkom Group CEO Sipho Maseko has sold more than 112 000 shares in the telecommunications operator, bagging R10.8-million in the process.
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.
Cell C has appointed its chief operating officer, Douglas Craigie Stevenson, as interim CEO following the departure of Jose Dos Santos.