Major operators have created a new, non-profit association to look after their interests and work with government and regulators.
Browsing: Cell C
The recapitalisation of Cell C is taking longer than expected, and will now only be concluded “towards the end of August”.
JSE-listed Huge Group has reached a deal to acquire the remaining assets belonging to the former Virgin Mobile South Africa, now known as Tethys Mobile.
Lenders to the troubled mobile operator have approved a “compromise offer” that will place the company into a more sustainable debt position.
A critical meeting to decide the future of Cell C was not able to proceed to a vote on a planned recapitalisation this week.
Telkom Group CEO Serame Taukobong said he has zero interest in buying smaller rival Cell C, making it clear that no deal will happen on his watch.
Telkom has reported a decline in full-year revenue of 1.1%, to R42.8-billion. It has blamed tough competition and the weak state of the economy.
The long-delayed recapitalisation of debt-laden mobile operator Cell C is inching forward, with secured lenders set to vote on a “compromise offer” next month.
New research shows South Africans actively dislike telecoms operators, with the industry ranked last in net customer sentiment, below banking, insurance and retail.
Vodacom will use its newly acquired spectrum assets to build out 4G and 5G infrastructure and grow its presence in the wireless broadband market, CEO Shameel Joosub said.