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Blue Label Telecoms says it will hold another meeting with lenders in a bid to obtain final approval of terms in the long-awaited recapitalisation of mobile provider Cell C, after an important meeting this week failed to reach quorum.

Blue Label, which specialises in selling prepaid airtime, electricity and ticketing, is recapitalising SA’s fourth-largest cellular phone provider, which has struggled to make a profit since it opened for business in 2001 and is laden with long-term debt of R8.7bn...

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