Under the terms of the proposed transaction, existing airtime lenders will provide R4.25-billion in new super-senior debt secured by a significant portion of Cell C’s assets, excluding spectrum, according to sources.
Browsing: Gatsby
Cell C’s planned recapitalisation remains the subject of discussions with potential investors, despite a plan, announced last month, to retrench almost 40% of its workforce.
The Competition Commission on Thursday said it has given its conditional approval for an entity called Gatsby SPV to acquire “certain aspects” of Cell C.