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.
Browsing: Brett Levy
Cell C is showing signs of having turned the corner, at least when it comes to its income statement – the company’s balance sheet still needs fixing through a planned recapitalisation.
Blue Label Telecoms will report slight growth in headline earnings per share of between 0% an 4% for the six-month reporting period ended 30 November 2020.
Cell C’s largest shareholder, Blue Label Telecoms, is confident a recapitalisation of the mobile operator will be completed in the coming months and that this will put it on a new growth trajectory.
The Competition Commission on Thursday said it has given its conditional approval for an entity called Gatsby SPV to acquire “certain aspects” of Cell C.
Blue Label Telecoms, which bought a 45% stake in Cell C in 2017 for R5.5-billion, has said in its annual report that it is “extremely disappointed” in the performance of the mobile operator.
Blue Label Telecoms co-founders and co-CEOs Brett and Mark Levy are stepping down as non-executive directors of the Cell C board with immediate effect.
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.
TechCentral’s interview with Brett and Mark Levy, the co-CEOs of Blue Label Telecoms, was by far TechCentral’s most popular podcast in September 2018, according to statistics from platform partner iono.fm.
In this episode of the podcast, Duncan McLeod interviews Blue Label Telecoms co-founders and co-CEOs Brett and Mark Levy on the future of the JSE-listed group.