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.
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Blue Label Telecoms said it is still locked in talks over a planned recapitalisation of the debt-laden mobile operator.
Despite a weekend report of an approach by MTN Group, Telkom shares were trading lower on Monday, implying investors don’t believe a deal is imminent or even possible.
Cell C’s decision to exit the network infrastructure business appears to be bearing fruit.
Blue Label Telecoms cautioned shareholders on Monday that it remains in talks about a recapitalisation of mobile operator Cell C, in which it holds a 45% stake.
While plenty has been spoken around ARC’s fee structure, not enough has been asked about its valuation of Rain. By Keith McLachlan.
Blue Label Telecoms has suspended two senior executives pending an investigation into possible irregularities, details of which the JSE-listed group has declined to disclose at this stage.
Mobile operator Cell C has reported R2.3-billion in profit before tax, a huge turnaround in fortunes from the R10.6-billion PAT loss it reported a year ago.
Cell C’s largest shareholder, Blue Label Telecoms, disclosed on Thursday that a term sheet to recapitalise the mobile operator has finally been signed after protracted negotiations.
JSE-listed Blue Label Telecoms, which owns 45% of mobile operator Cell C, said on Friday that it will report a big jump full-year headline earnings when it reports results next week.