Blue Label Telecoms has unveiled long-awaited details of a planned recapitalisation of Cell C – a move aimed at dealing once and for all with the mobile operator’s crippling debt problem.
Browsing: Douglas Craigie Stevenson
Blue Label Telecoms said it is still locked in talks over a planned recapitalisation of the debt-laden mobile operator.
Cell C’s decision to exit the network infrastructure business appears to be bearing fruit.
Blue Label Telecoms cautioned shareholders on Monday that it remains in talks about a recapitalisation of mobile operator Cell C, in which it holds a 45% stake.
Mobile operator Cell C has reported R2.3-billion in profit before tax, a huge turnaround in fortunes from the R10.6-billion PAT loss it reported a year ago.
Cell C CEO Douglas Craigie Stevenson has criticised Telkom over its narrative that there is an abusive “duopoly” between Vodacom and MTN in South Africa’s mobile market, saying this argument no longer holds water.
Starlogik, a US-headquartered telecommunications specialist with its roots in South Africa, has partnered with Cell C to roll out what it calls the “first totally free virtual cellular offering”.
Cell C on Tuesday reported a full-year loss to 31 December 2020 of R5.5-billion. Dire as that sounds, it marks an improvement on the first half of the year, when it turned in a R7.6-billion loss.
There are three important takeaways from the Chasing the Sun rugby documentary series, all of which are relevant to South Africa’s mobile sector, says the Cell C CEO.
Cell C CEO Douglas Craigie Stevenson said on Thursday that the company plans to use both the Vodacom and MTN networks to provide cellular services to its customer base.