The man who rallied the now defunct furniture group Ellerines’s board to take the hard decision of putting the retailer under business rescue, says Cell C will not be heading down the same path even as the network operator’s survival partly depends on a competitor’s willingness to help it.

Speaking on the sidelines of the Finance Indaba Africa, Cell C CFO Zafar Mahomed said the company, which has R9bn of debt and was downgraded to “default” by S&P after missing interest payments for July, has “a credible plan” that he hopes stakeholders will back.

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