One thing we know: when it is all over, those of us who survive will find some form of meaning in it, writes Melanie Verwoerd.
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.
Telkom says the success of its takeover bid of Cell C depends on the ability of the mobile operator to complete its financial restructuring.
Discussions are at a 'preliminary stage'
Blue Label Telecoms, Cell C's largest shareholder, said on Wednesday that telecoms investment holding company DNI 4PL would be buying its interests in Blue Label Mobile as well as taking over 3G Mobile from its subsidiary The Prepaid Company.
The JSE has threatened to suspend Blue Label Telecoms shares as the company has failed to release its provisional financial results as required.
Cell C has suspended the payments as part of an effort to recapitalise the company and increase liquidity, chief executive officer Douglas Craigie Stevenson has said.
South African wireless carrier Cell C has begun talks to delay debt payments and has hired consultants to probe its business practices and advise on a restructuring.
Why is data in South Africa so expensive? Why does it 'expire'? And is there anything that anyone can do about it? Fin24 unpacks the issues in the final instalment of this four-part series on the cost of data in SA.
Why is data in South Africa so expensive? Why does it 'expire'? And is there anything that anyone can do about it? Fin24 unpacks the issues in the third report in this four-part series published daily on the cost of data in SA.
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.
MTN has signed a new long-form roaming and services agreement with Cell C to give it access to MTN's network in all areas of South Africa.
Embattled Cell C has not ruled out negotiations with China Mobile in a bid to stabilise the company, following reports alleging that a deal was on the cards.
Cell C's major equity holders Blue Label Telecoms and Net1 have both placed the fair value of the mobile operator at zero.
Net 1 is rescheduling the release of its audited results in order to allow more time for clarification in respect of proposed transactions at Cell C.
MTN's share price tanked on Thursday as the market digested its results.
Information Communication Technology Union president Moeketse Lepheana has said that striking workers from Cell C will picket alongside Tiso Blackstar Group employees at the media company’s offices on Tuesday.
Expiring data is a business anachronism and must die out, says Ferial Haffajee.
Why is data in South Africa so expensive? Why does it 'expire'? And is there anything that anyone can do about it? Fin24 unpacks the issues in the second report in this four-part series published daily on the cost of data in SA.
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