Blue Label secures funding to recapitalise Cell C
Prepaid specialist says it has reached a deal with financiers such as Investec and Rand Merchant Bank
After more than two years, Blue Label Telecoms says it has secured funding from various banks to recapitalise mobile operator Cell C.
Blue Label, which specialises in selling prepaid airtime, electricity and ticketing, is recapitalising Cell C, SA’s fourth cellular phone provider, which has struggled to make profits since it opened its doors in 2001 and is laden with long-term debt of R8.7bn. ..