“We don’t have another chance to do this again. We have to do this right,” interim CEO Douglas Craigie Stevenson said in an interview with TechCentral.
Cell C’s largest shareholder, JSE-listed Blue Label Telecoms, has moved to reassure nervous investors about the mobile operator’s prospects.
Cell C has begun talks to delay debt payments and hired consultants to probe its business practices and advise on a restructuring.
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.
It’s not even the end of the first quarter and already there’s a plethora of once-significant South African companies that have either collapsed or had their share prices hit the wall.
In this episode of the podcast, Duncan McLeod and Regardt van der Berg chat about some of the highlights from MWC 2019, including Huawei’s foldable phone and Energizer’s insane battery phone.
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 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.