Blue Label one step closer to completing Cell C recapitalisation
Blue Label has concluded an umbrella restructure term sheet that will see the mobile operator being restructured and refinanced
15 March 2022 - 19:42
Shares in Blue Label Telecoms plunged in late afternoon trade on Tuesday as the prepaid specialist said it had concluded a complex set of agreements with funders and shareholders worth more than R7bn, bringing it one step closer to completing the long-awaited recapitalisation of mobile operator Cell C.
Blue Label, which specialises in selling prepaid airtime, electricity and ticketing, is recapitalising 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. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.