Cell C’s empowerment investor, CellSAf, said on Thursday it was still waiting for the Independent Communications Authority of SA (Icasa) to tackle its concerns about the mobile network operator’s recapitalisation deal. Blue Label and Net1 recently bought 45% and 15% stakes in Cell C, respectively, in a move that was hailed as a lifeline for the indebted company. Icasa said last week its investigations into the deal found that Cell C followed the correct process in notifying regulators of a change in shareholding and that the deal did not amount to a transfer of control. However, it was still considering other complaints lodged by CellSAf, according to a letter from the regulator seen by Business Day. Blue Label said Icasa had confirmed Cell C "has complied with all applicable regulations". "The recapitalisation of Cell C has been hugely successful in that it promotes the interests of the economy, the telecommunications industry and the consumer," Blue Label said. But CellSAf said Ic...

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