Browsing: Buffet Consortium
Though there is “significant doubt” over Cell C’s ability to continue as a going concern, the mobile operator’s biggest shareholder, Blue Label Telecoms, said on Friday that “management believes it is more likely than not” that the company will survive.
It’s not all doom and gloom at Cell C, apparently. The debt-laden mobile operator has managed to scrounge up the cash to renew its sponsorship of Sharks Rugby.
Vodacom is in talks with Cell C about taking on the smaller rival’s contract-paying mobile phone customers, a move that would strengthen its position as South Africa’s telecommunications market leader, sources said.
Telkom fell through R30/share on Thursday as the six-month-long slide in its share price – which has now wiped out more than 70% of its market value – continues.
After a massive selloff on Monday, shares of South Africa’s biggest listed telecommunications companies continued to trade lower into Tuesday.