A group of local banks have committed to provide temporary liquidity and extended the maturity of R1.2-billion of debt that was due to be repaid last month, Cell C said.
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TechCentral sat down with Cell C’s CEO and chief financial officer to discuss the operator’s plan not only to pull itself back from the brink but to put itself on a sustainable financial footing.
Cell C reported a net loss after tax of more than R8-billion in the 12-month period ended 31 May 2019 as the mobile operator battles its own internal cost problems and a weak economy.
A day before Blue Label Telecoms reports its annual results, the technology group has announced it will sell various businesses, including part of 3G Mobile, to deleverage its balance sheet.
Shares in Blue Label Telecoms enjoyed a rare upswing on Friday, a day after it issued a trading update that showed its core business continues to perform well despite the ongoing woes at Cell C.
Blue Label Telecoms will take an almost R6.71/share hit to its earnings per share for the full-year to 31 May 2019 thanks to the ongoing woes at Cell C, it warned on Thursday.
From inception, no one has made an equity return from investing in Cell C. It’s doubtful whether Jonathan Beare and his Buffet Consortium will be any different.
The JSE warned on Tuesday that Blue Label Telecoms failed to submit its annual financial results on time and that if it fails to do so by month-end, its shares may be suspended from trading.
MTN South Africa is launching a wholesale fixed-LTE offering to Internet service providers, with its own ISP, Supersonic, the first to bring a retail product to market on the back of the offering.
In the podcast this week, Duncan McLeod and Regardt van der Berg unpack Apple’s big keynote, looking at everything from the new iPhones to the surprise price of the company’s new Netflix competitor.