Multiple sources close to Cell C have rubbished a report that China Mobile is about to strike a deal to buy a stake in the troubled South African mobile operator.
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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.
Cell C has stopped broadcasting the linear channels on its Black video-streaming service as the struggling mobile operator continues a major review of costs in its business.
Cell C’s largest shareholder, Blue Label Telecoms, will delay publication of its full-year financial results until late September to deal with various issues related to the mobile operator’s recapitalisation and restructuring.