Virgin Mobile, the first virtual mobile network operator to be launched in South Africa, has been placed into voluntary business rescue.
Browsing: Cell C
MTN South Africa delivered strong subscriber growth in the third quarter of 2020, propelled higher by an advance in prepaid users. This, coupled with surging demand for data, helped lift revenue and margins.
After years of toying with the idea of launching a mobile virtual network operator (MVNO) platform offering, MTN South Africa has finally pulled the trigger on it.
Under the terms of the proposed transaction, existing airtime lenders will provide R4.25-billion in new super-senior debt secured by a significant portion of Cell C’s assets, excluding spectrum, according to sources.
Cell C has reported an interim net loss after tax for the six months to June 2020 of R7.5-billion, but said this was mainly the result of once-off costs and adjustments and that normalised earnings actually grew by 64%.
Blue Label Telecoms has sold its interest in Blue Label Mexico to its partner in the business, multinational bakery products company Grupo Bimbo, for $11.5-million.
Cell C shareholder Net1 UEPS Technologies has appointed a new director to the board of the mobile operator. David Shimkins will replace Paul Edwards with immediate effect.
Relations between Cell C and its soon-to-be-former client Huge Group have reached rock bottom, with the former claiming it’s owed R60-million by the latter and the latter saying it’s actually the one that’s owed money “morally”.
Ten years after it launched its first mobile offering in the form of 8ta, Telkom has surpassed Cell C to become South Africa’s third largest mobile operator by subscriber numbers.
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.