Cell C now ready for new deals, products after recapitalisation
Struggling company says it has a number of new partnerships in the pipeline following a deal struck with Capitec earlier this week
With a more than three-year recapitalisation now finalised, Cell C says it is ready to move forward with new telecom products and deals for the SA market and has signed a deal to underpin Capitec’s new mobile network as part of this mission.
Last week, Cell C’s largest shareholder, Blue Label Telecoms, completed the long-awaited recapitalisation of the troubled mobile operator. Cell C has struggled to make a profit since it opened for business in 2001. It has been laden with long-term debt of R8.7bn, prompting Blue Label and Lesaka Technology (formerly known as Net1), which owns 15%, to write down their combined R7.5bn investment to nil...
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