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.
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Cell C spent R523.9-million acquiring programming and movie rights for its Black video-streaming platform in the 2018 financial year, the mobile operator has revealed.
Cell C reported a total comprehensive loss for the 2018 financial year of R1.3-billion, a filing on shareholder Blue Label Telecoms’ website on Thursday shows. The results are preliminary and unaudited.
Cell C has appointed its chief operating officer, Douglas Craigie Stevenson, as interim CEO following the departure of Jose Dos Santos.
Huge Group said on Tuesday that it has won an interdict in a legal dispute between two of its subsidiaries and Cell C, apparently preventing the mobile operator from terminating its services as planned at the end of this month.
Protest action hit the Cell C head office campus in Woodmead, Johannesburg on Tuesday as unionised workers picketed over bonuses.
Vodacom will comply with communications regulator Icasa’s new data expiry rules from this week, but the country’s largest mobile operator has said it will charge users to roll over their unused data.
In the podcast this week, Duncan McLeod and Regardt van der Berg unpack what has been a dramatic two weeks for JSE-listed technology services group EOH.
Cell C’s largest shareholder, the JSE-listed Blue Label Telecoms, said on Friday that The Buffet Consortium plans to buy a minority shareholding in Cell C that will bolster the mobile operator’s balance sheet.
Jose Dos Santos will step down as CEO of Cell C at the end of February, the mobile operator’s largest shareholder, JSE-listed Blue Label Telecoms, said in a statement on Friday.