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.
Cash Paymaster Services, which used to pay out social grants on behalf of the South African Social Security Agency, is to go into liquidation.
Cell C shareholder Net1 UEPS Technologies has appointed a new director to the board of the mobile operator. David Shimkins will replace Paul Edwards with immediate effect.
Net1 UEPS Technologies is seeking to place a subsidiary that’s been ordered to repay hundreds of millions of rand to the welfare department in business rescue.
JSE- and Nasdaq-listed technology company Net1 UEPS Technologies will sell its Korean payments processing business KSNet to Stonebridge Capital and Payletter for R3.5-billion.
TechCentral’s annual review of share price performances of JSE-listed technology companies shows that Cartrack, Altron, Mustek and Datatec all turned in a strong performance in 2019, but these were the exception rather than the rule.
Blue Label Telecoms co-founders and co-CEOs Brett and Mark Levy are stepping down as non-executive directors of the Cell C board with immediate effect.
Shares in Blue Label Telecoms enjoyed a rare upswing on Friday, a day after it issued a trading update that showed its core business continues to perform well despite the ongoing woes at Cell C.
Net1 UEPS Technologies has become the second JSE-listed company, after Blue Label Telecoms, to delay publication of financial results because of the ongoing financial woes at Cell C.
Altron’s continued turnaround, under the leadership of CEO Mteto Nyati, delivered the best performance among technology shares listed on the JSE in 2018, TechCentral’s annual review of the sector shows.