Seacom, which operates an undersea cable that connects Africa to Europe and Asia, is not commenting on speculation that it is in talks to buy South African fibre provider FibreCo Telecommunications.
Browsing: Cell C
As Blue Label’s share price on Wednesday fell to the same level as its debut price on the JSE 11 years ago, the company’s management team has moved to assure the market that its acquisition of 45% of Cell C was not only well thought through but will deliver the expected returns.
A day after falling 8% on the back of interim results published by Cell C, Blue Label Telecoms shares again took a battering on Wednesday after the group published full-year results.
Shares in Blue Label Telecoms, which owns 45% of Cell C, fell by 8% on Tuesday after the mobile operator reported half-year results to 30 June 2018 that showed a net loss after tax of R645-million.
Cell C is planning a share sale in Johannesburg by the first quarter of 2020 as South Africa’s third largest wireless company seeks funds for acquisitions.
About 2.5 million people have browsed through the Black catalogue to date, Cell C said of its video entertainment platform on Tuesday alongside its half-year results to 30 June 2018.
Cell C has reduced its net loss after tax in the first half of the 2018 financial year by 33% to R645-million on the back of an 11% improvement in service revenue to R6.9-billion.
A new, South African-developed rival to Facebook’s WhatsApp, which offers zero-rated data access on South Africa’s four largest mobile operators, has been launched.
A redrafted version of the Electronic Communications Amendment Bill will be presented to cabinet by the end of next month, a move that could finally take South Africa a meaningful step closer to awarding new spectrum licences.
Cell C could be the big winner from new mobile operator Rain’s decision to suspend sales of fixed-LTE products with effect from 1 November 2018.