When herd behaviour is used for selfishness, all you’re left with is a smug sense of entitlement, writes Charlene Naidoo.
Blue Label Telecoms wrote down its entire stake at Cell C in 2019. And after calling in a valuation specialist, its value remained at R0 in the first half of the group's 2020 financial year.
Cell C has defaulted on the payment of interest for a R2.7bn loan, due in December 2019, as well as interest and capital repayments due in January 2020.
Cell C's major equity holders Blue Label Telecoms and Net1 have both placed the fair value of the mobile operator at zero.
The recent recaptialisation deal between mobile network, Cell C and airtime seller, Blue Label Telecoms could see potential delays.
After the conclusion of one of the country’s most complicated acquisitions, Blue Label Telecoms CEO Mark Levy told Fin24 that finalisation felt like ‘the birth of a child’.
Cell C wants to cut its debt by 73% as part of a deal that will help it sell a stake to Blue Label Telecoms while retaining its operating licence, according to people familiar with the matter.
South Africa’s third largest mobile network Cell C has recorded its first full-year profit of R540m, following a R5.6bn loss the previous year.
Full financial results of South Africa’s third largest mobile network, Cell C, have been revealed for the first time ever.
SA Rugby has announced that Blue Label Telecoms has extended its partnership with the Springboks to cover the rest of the 2016 season.
Cell C has received a ratings boost, following reports that Blue Label Telecoms plans to acquire a 35% stake in South African telecommunications business.
The announcement comes a day after its largest shareholder, Blue Label Telecoms Limited, said Cell C had defaulted on interest payments on a R2.7bn loan.
Blue Label Telecoms expects its earnings for the six months ended 30 November 2019 to increase by at least 20%, it said in a shareholder notice on Thursday afternoon.
Mobile network Cell C reported a R588m net loss in its interim results for 2017, its major shareholder Blue Label Telecom has announced
Blue Label Telecoms earnings continued to rise, according to the company’s financial results for the year ending May 2017.
Airtime seller Blue Label Telecoms has announced an agreement which will see it acquire 3G Mobile, one of Africa’s largest mobile distributors, for R1.9bn.
The move by Blue Label Telecoms to acquire a 45% stake in C Cell hit a speed wobble this week after Net1 changed course as the third-party investor.
Local telecommunications player Blue Label Telecoms has reached a last-minute agreement that is expected to see it acquire 45% of Cell C.
Blue Label Telecoms says plans to acquire 35% of Cell C as part of a recapitalisation of plan are still “on track”.
South Africa’s third largest mobile network says its board has accepted an offer from Blue Label Telecoms to acquire 35% of the company for R4bn.
The distributor of prepaid airtime plans to acquire a stake in South Africa’s third largest mobile network as part of a recapitalisation programme.
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